Tuesday, 1 July 2014

10am update - R2K pushing into the 1200s

Whilst the sp'500 and Dow are both pushing higher, there is more notable strength in the R2K, which has just broken the big 1200 threshold, and looks set to break the March high of 1212. The monthly charts are offering the 1270s..although 1225/50 seems more realistic for July... or August.

R2K, daily


The 1080s now look a long... long way down.

With stocks like NFLX on their way to $500, there is no doubt the R2K will keep on pushing higher for another few weeks.

I am starting to get real concerned that the current trend will not significantly break in late July, and instead, we'll just keep on pushing higher.. sp'2100s by early Autumn.


Even the piece of trash that is WFM is higher this morning.. although it actually turned red in the opening few minutes.  I need $42s .. and frankly, I don't think I'm getting that. 

10.12am... and welcome to the sp'1970s...

We're a mere 1.5% away from the giant 2000 threshold... incredible.

As it is, weekly charts are restrictive to 1975/80 this week... 2000 does not seem viable until late July/early August.