Tuesday, 18 February 2014

3pm update - upside into the close

Considering the hourly index MACD cycles, there looks to be minor upside into the close. Any daily close in the mid 1840s will allow for an easy gap into new territory at the Wednesday open. Metals are holding gains, Gold +$4, but Silver up a much more significant 2.0%.



A very muted trading day. At least tomorrow will have a few things of note, esp' the FOMC minutes. I'd guess the market will merely use it as an excuse to rally into the 1855/65 zone.

For me, the only issue now is whether we just proceed 'straight up' to 1890/1910 or so..before end month. Certainly..at the current rate...it looks very probable.

All the bulls need is to break the micro double top high of 1850..and a whole truck load of short-stops will get hit..and we'll spiral higher into the coming weekend.

4/5 weeks to go....bears.......


3.31pm...market trying to break new intraday highs...naturally. VIX still in danger of closing red..for the 8th consecutive day.