Thursday 17 October 2013

Closing Brief

The main indexes generally closed with moderate gains, with the sp +11pts @ 1733. The near term trend remains starkly higher. The market has gained 87pts across the last 7 trading days. With the shutdown over and the debt ceiling kicked into next February, the market looks set for gains into next spring.


sp'60min


Summary

There is little to add.

The bigger picture should be crystal clear to even the most deluded doomer bears who thought the zombies would be roaming the western world this weekend.

This remains a powerfully bullish market, and the sp'1800s now look viable by late November.
--

more later..on the VIX
-

UPDATE...

The delayed Sept' jobs report..will be released, (likely @ 8.30am). next Tuesday.  So..there is something for the algo-bots to front run - not least with a big QE on the Monday.