Monday, 9 December 2013

Closing Brief

The main indexes closed moderately higher, with the sp +3pts @ 1808. The two leaders - Trans/R2K, settled +0.3% and -0.2% respectively. Near term trend remains bullish, with the bigger weekly/monthly cycles offering the sp'1840s before year end.



*price action on the hourly is offering a small bull flag (not labelled).

Any break >1814..and the ABC scenario will get trashed, and I'd have to guess, that will be the case.

A relatively quiet start to the week, and there really isn't much reason why the rest of the week will be any different.

The broad underlying upside pressure continues.

more later...on the VIX.