Friday, 7 March 2014

11am update - minor chop turns to churn

US indexes opened higher, saw some minor chop, and it now looks like we'll merely 'churn into the weekend'. The equity bulls have managed a very strong turnaround from the Monday low of sp'1834. A weekly close in the 1870/80s would be yet another strong net weekly gain.




*there is actually quite a bit going on, despite the main market somewhat muted.

We have the coal miners getting smashed, ANR, BTU,
Gold/Silver both significantly lower, after the 'good' jobs data.

VIX has again slipped to the 13.50s....the 12s certainly look viable.

Overall though, the primary trend is unquestionably bullish, with further upside likely into the next FOMC of March'19.

11.11am teasing the bears..with a minor down cycle to low 1870s.

Anyone want to get hysterical over this?   Go look at the above weekly charts!