Monday, 30 December 2013

11am update - market building another bull flag

There is a rather clear bull flag continuing to build on the hourly index charts. The sp'1830s should hold for the rest of today/tomorrow..before a renewed push higher. Weekly charts are offering the 1870s...and even the 1900s are viable by mid/late January.




*VIX is higher by 5%, but I can't take that seriously, not with the overall market mood.

So...regardless of whether the chop ends today..or continues into the Tuesday close...we're set for the 1850/70 zone later this week.