Tuesday, 21 January 2014

Closing Brief

The main indexes opened higher, saw a reversal, but still managed a latter day recovery, with the sp'500 settling +5pts @ 1843. The two leaders - Trans/R2K broke new historic highs, both closing higher by around 0.6%



So...what to make of today?

Opening gains...failed to hold..a minor - but somewhat strong down wave to 1832..but then a latter day recovery.

Arguably, its just the sort of thing we've seen hundreds of times across the last few years. Baring a break <1815, the primary trend remains unquestionably to the upside.

With charts like FB, AAPL, and even the stinky TSLA looking very bullish, I have little doubt we'll make it to my target zone of sp'1860/80.

more later..on the VIX