Tuesday 7 January 2014

Closing Brief

The US equity market closed moderately higher, with the sp +11pts @ 1837. The two leaders - Trans/R2K, settled higher by 0.7% and 0.9% respectively. Near term outlook is for a weekly close in the sp'1850s, with further upside next week, into the 1860/80 zone.


sp'60min


Summary

*price structure is a baby bull flag on the hourly cycle
---

Today felt exceedingly...difficult...although at least Mr Market was acting..as I had expected.

Right now, I don't think we'll be <1800 until the summer. Go dwell on that thought for a few hours.
--

the usual bits and pieces across the evening.