Monday, 28 July 2014

3pm update - a close in the 1980s?

US equities have seen some moderate swings today, the only issue is whether a close fractionally above..or below sp'1980. Regardless of which side of 1980, Mr Market looks set to settle into minor churn until 'big action' Wednesday.



*second baby bull flag of the day... with the hourly cycles as they are, I wouldn't bet against another wave higher into the close.

Certainly, there is no real downside power... even in the R2K/Trans, which were both -1% earlier this morning.

Personally, I'd rather skip tomorrow.. and just jump straight ahead to Wednesday.