Wednesday, 22 January 2014

1pm update - equity bulls need Dow 16500s

US equities remain in minor chop mode, but the underlying upward pressure is pretty clear. Bulls need to hold the 16200/175 zone, whilst a daily close in the 16500s, will open up 16700/900. The 17000s look unlikely until the late spring, but did UAL >$48.

Dow, daily


Without getting lost in the minor noise, the primary upward trends are still holding.

Only with a break <16175 can the equity bears  have any hope of sig' downside, and frankly, there doesn't look to be a hope in hell of that.

For those looking, there are plenty of strong aspects out there...

AAPL, TSLA, and most notably...UAL, +1.5% @ $48.64

UAL, daily

Upper bol' on the daily, is offering the $51s by end week