Monday 24 February 2014

2pm update - holding the gains

Mr Market is comfortably holding the bulk of the gains, with a daily historic close likely in the sp'1850s. With further sig' QE tomorrow, and Thursday, equity bears haven't a hope. Metals holding gains, Gold +$14. VIX is merely melting lower, having now slipped into the upper 13s.


sp'daily5


Summary

The style of price action has been telling the story for the past few weeks. There continues to be an inexorable push to the upside, helped by significant (if somewhat less) doses of QE fuel.

With each QE taper..the pressure increases on the bull maniacs. Even this market is going to be subject to a correction at some point.

--
notable strength; FB +3.8% in the $71s.


Anyone still doubt that nonsense hysteria stock won't be in the 100s next year?