Tuesday, 1 July 2014

3pm update - a major day for the bulls

US indexes continue to hold significant gains, with just about all indexes having broken new historic highs. The bigger monthly charts are offering broad upside into Aug/early Sept - as especially suggested by the R2K.



*lousy Swiss failed to stop the Argentines. urghhhh

I noted one or two others kinda suggest it in recent days... but it looks like late July will offer a minor down wave of 2-3%.

Problem for those currently short, that 2-3% drop will probably be from somewhat higher levels. Whether that is sp'1990, 2000, 2010...difficult to say.

What is clear.. this is no market for a short trade.

Next problems for the bears...

Wed' Yellen at the IMF
Thur' half day...melt into the holiday weekend
Mon' sig' QE of $3bn


coming up at 4pm .EST... Belgium vs USA... and that will be a fine way to end the day.