Tuesday, 1 July 2014

11am update - the powerful R2K

Whilst the sp'500 hits a new historic high of 1971, the real action is in the R2K. Having floored in the 1080s in early May, it is now some 11% higher..and looks set for the 1275/1300 zone in August. For the equity bears out there, this remains a terrifying index.

R2K, weekly


An incredibly powerful ramp from the 1080s, but then...it was expected.. not least after a series of very clear floor spikes - seen on the daily chart.

Monthly chart is offering the 1270s, and in August that will have risen to around 1300.

Notable strength: NFLX, +5.7% @ $465.. and headed for the big $500... no doubt.

11.36am.. sp'1974... rough day for the bears...and Yellen is due tomorrow.