Thursday, 10 July 2014

2pm update - underlying market strength

US indexes continue to recover from the early morning falls, with many (perhaps even the R2K) set for a net daily gain. VIX looks set to lose the 12s this afternoon, and a red close would make for a very strong confirmation that sp'2000s will be hit next week.


Dow, daily


The Dow daily chart is very bullish... if it can close green (not that its necessary).. it'd make for a VERY powerful spike floor candle.. and bode for Dow 17500/18k - as early as September - a mere 7 weeks away.

For those still holding short from the open... today is turning out to be a bit of a disaster.

...for those watching the VIX at the's recovery is not surprising.

Notable hyper strength: UAL +11.3%.

2.35pm. I'm just updating my other pages..with new template colours... hope some of you find it an improvement.

...meanwhile... minor chop, but the sp' is now comfortably holding the 1960s... a further minor up wave into the close... very viable.

Frankly, any daily close in the 1970s would be a major head slam to those daring to short the open.