Good morning. The market opens a touch higher, and looks set for quiet chop across the day. Equity bears face the relentless broader upside pressure. Metals open moderately higher, with Gold +$7. Oil is significantly lower by -1.5%.
*notable early mover... AAPL..into the 540s..set for the 575/600 zone by end year.
If we break over 1808..then..I'm not exactly sure what to do with the current wave-count. Besides, the R2K is powering higher...urghh
Video update from Mr Permabull...who is wildly bullish.
There is a lot to say about the above..suffice to say..finally..someone else out there is touting sp'2100/2200s, which is what I've been suggesting for some months.
As it is..a 'baseline' of sp'1950/2050 in the current Oct'2011 wave, seems 'reasonable'.
Near term targets...Trans 7400..which might equate to sp'1840/60 zone. On any basis, it still seems pointless to consider any index-shorts until late spring 2014.
updates across the day!
10.25am... market still stuck <1808.... Oil weak...metals..turning red.
Maybe we'll see a little down wave after all. Regardless...holiday trading...not many around today!