Thursday, 29 May 2014

2pm update - afternoon minor mess

US equities are holding minor gains, but those were more than enough to break new historic highs in the Transports and sp'500. The broader up trend most certainly continues..with 'small' risk of a retrace back to the 1902/00 zone. Metals remain weak, Gold -$3.

R2K, daily


R2K building a bull flag on the daily?

I'm certainly not buying at this level, I'd consider 1130/25...but there only looks to be a small chance of that.

After all, if GDP -1% can't kick the market lower, what can?

How about 'end of the world'? But that is bullish construction sector, yes ?

*Just email client has not been sending me notifiers all day..urghh.....bear with me

2.26pm.. We're coming up to the typical turn time of the afternoon.

ALL smaller cycles are now over-stretched to the upside....90minutes for 'weakness into the close'.

A full reversal here would be kinda interesting...

For the day-traders out there...I'd guess it makes for a valid trade..but with a nano-tight stop!