Tuesday 7 January 2014

11am update - breaking back into the 1840s

The market is holding moderate gains of around 0.7%, and we've already broken back into the sp'1840s. Metals remain weak, Gold -$11. VIX reflects a market with zero concern for the coming earnings season, -4.5%, in the 12.90s.


sp'daily5


Summary

There really isn't much to add.

The broader up trend is simply reasserting itself, and all those touting for the mid 1700s are going to sink back into the holes from whence they came.

I'm way tired of hearing such nonsense talk, from people who refuse to acknowledge basic issues such as world capital flows.

The fact today is seeing a $2-3bn dose of QE is certainly going to help rub salt into the wounds of those dumb bears today.
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Notable strength in STX


Headed for triple digits..eventually. Go read the balance sheet.