Wednesday, 11 September 2013

3pm update - closing hour tedium

The market remains pretty subdued, but then, that merely makes it even easier for the algo-bots to melt things higher. Whether the market closes in the 1680s..or 90s seems no longer important. The market appears in outright bullish mode..a 100% fearless one.



Perhaps I should quit looking at the hourly charts as much, but we're consistently holding the 1680s..and even the 90s look viable for today's close.

Price action is back to the old style of multi-week/month melt.

Seems ZERO point being short now.

Trans, weekly

Just look the tranny, nothing bearish there anymore. First target are the 6600s, and then the big 7000 level.  That might equate to sp'1740/60s by late October.