Thursday, 6 March 2014

11am update - 1890s are due... soon

US equities are holding moderate gains, with the sp' having broken to a new historic high of 1881. The 1890s look a given, the only issue is when we'll break into the 1900s..not 'if'. Metals are higher, Gold +$8. VIX is trundling in the 13s.



*I should probably clean ALL the numbers off the hourly chart. After all, the current price action of the past few weeks is hard to discern...other than the fact the trend is UP!

Indeed, the trend is still up..and anyone trying to short this is effectively walking in front of a steam rollar.

Notable pull back in DRYS from the open...


A clear black-fail candle at the open, and there are two gaps to fill.. 3.95, and 3.80...although the latter one will be tough to hit - considering the daily/weekly charts. I'm still broadly bullish to 4.50/5.00 before the next FOMC of March'19..when the sp' will likely be in the 1910/20 zone.