Thursday, 6 March 2014

1pm update - Trans and Dow set to break new highs

The somewhat laggy Transports and Dow are set to break new historic highs, if not tomorrow...then next week. Such new highs would send another wave of confidence to the mainstream..and open up a further 1-2% of upside by the next FOMC of March'19


Dow, daily


I realise some will be looking for a weak jobs number tomorrow, but you really think market is going to close lower by -1%?

Underlying price momentum is very strong.

Anyone shorting this needs to go stare at a monthly chart for rest of the week.

Notable weakness: STX -4.8% (I've no idea why)