Thursday, 29 May 2014

10am update - opening minor gains

Equities open moderately higher, with new historic highs (yet again) for the Trans/sp'500. VIX is a touch lower, but managing to hold the 11s. Metals remain weak, Gold -$3, with Silver -0.4%.



*I was looking for a black-fail candle to start the day... and as at 9.54am...R2K has a BLACK-fail candle.

With a barrel of QE fuel due to appear this morning..bears face underlying upward pressure.

In theory..we could close today in the 1920s..which would certainly bemuse the mainstream, considering the lousy (and it WAS lousy) GDP data.

I remain on the sidelines. I can't short (not least with the weekly cycles pushing up)... but I can't go long.

Yeah..trader paralysis....although at least I'm not losing money on the short side.

10.38am.. R2K turns of the market...probably to follow.

Primary target is sp'1902/00...with R2K 1127/25