sp'60min
Summary
*keep an eye on the monthly charts at the open, look to see how the upper bollinger band will jump..probably to the dow 17000s, along with sp'1890/1900.
--
Well, a new trading year begins. good luck everyone!
As for today, there should still be very considerable underlying upward pressure. Certainly, we won't be seeing any sig' declines any time soon.
-
notable early mover: DRYS, -7%. I don't know why, and I doubt that will last long anyway. The weekly charts for the shippers - and the BDI itself, is extremely bullish.
9.09am.. Oil is really starting to slip, -1.7%... the moderately higher USD, +0.6% can't be helping, although that sure isn't a problem for the metals, with Gold +$19
9.21am..ohh the humanity, Dow is set to open -80pts.
As ever...don't get lost in the bearish hysteria..because that is what we will see a lot of this Jan/Feb.
9.33am.. Upper bol on the monthly charts...jumps to Dow 16850s, with sp' 1880s, kinda in the range I was looking for.
VIX +4%...but still in the 14s.
9.41am.. market should level out around 1835/33... where there is a clear gap to fill.
I'd be very surprised to see a break into the 1820s. DRYS -9%.. hmm