Friday 21 February 2014

1pm update - net weekly gains

Despite the opex chop, and the Wednesday declines, the sp'500 is still set for fractional gains this week. Equity bulls should be able to look forwards into March, the only issue is whether the 1900s are viable. Metals remain a touch weak, Gold -$2


sp'weekly8


Summary

*two fed officials speaking this afternoon, might kick the market around a bit.
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Kinda quiet out there.....what else to cover? Hmm

Ohh..there is Gold...


Holding a minor weekly gain, but still...importantly..holding last weeks breakout.
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1.23pm.. for those watching the smaller 15/60min cycles, we have a baby bull flag setting up..and price action sure is bullish.

Trans is also breaking higher..almost 1%.