Wednesday, 23 July 2014

11am update - pushing higher

After some mixed opening chop, the market is back into algo-bot melt mode (helped by some QE), and the sp'500 is pushing to new highs. The giant 2000 threshold is a mere 0.5% away.


R2K, daily


Volume is low... its a QE day (as is tomorrow), and with no downside pressure, we're back to just pushing higher.

Based on the R2K chart, the broader market could rally all the way into next FOMC/GDP day.. Wed' July30th.

Notable strength: AAPL +2.9% @ $97.40s... on its way to $100.. and beyond.

*I remain content to hold long-index into tomorrow.