Monday 25 August 2014

10am update - awaiting the 2000s

US equities open moderately higher, with the sp'500 set for the giant 2000 threshold this morning. Hourly cycle offers upside for at least a few hours, with key support at 1985 by the Monday close. Metals are weak, Gold -$3, whilst Oil is -0.4%


sp'60min


sp'weekly8b


Summary

At least to me, most notable, upper bollinger on the weekly cycle remains unchanged in the low 2020s. Right now, that remains the ceiling for the equity bulls.
--

Both of the smaller price gaps - see hourly chart, look out of range this week.

*equity bears should keep in mind there is QE tomorrow and Wednesday.

Best guess...upside into late Tue/early Wed. We could easily be 2010/15 zone by mid week.


10.14am... and welcome to the sp'2000s.