Tuesday, 24 December 2013

11am update - new highs... naturally

It is just another day in market land, with further gains, taking many indexes to new historic highs. The sp'1840/50s seem viable by year end, along with a year end close of the VIX in the 12/11s. Gold and Oil are both moderately higher.

Dow' daily


We have a rather clear F flag on the Dow daily index chart. Again, its important to note that the monthly chart is offering 16500s..and in January...that will rise to the 17000s.

Equity bears should dwell on the fact that QE will still be a monstrous $900bn as at Jan'1 2014.

Notable strength in DRYS, RIG, TLSA.TWTR, UAL

It would be 'useful' for yours truly to see RIG 53/55 by mid January.  Seasonally, RIG tends to jump in the first few months of the year..so...it will be interesting to see how things proceed.

11.33am.. RIG trying to re-take the 200 day MA..  this is all starting to get somewhat entertaining..with just 90mins left of the day!