Thursday 21 August 2014

1pm update - spike floor on the R2K

Whilst the broader market is holding moderate gains, there is a notable rebound in the R2K, which makes for a rather powerful spike floor just above the 200 day MA. Upside to 1190/1200 looks viable by mid September.


R2K, daily


Summary

Little to add.

The current daily candle in the R2K is a powerfully bullish one, and bodes strongly in favour of the bulls tomorrow.

A weekly close in the sp'2000s now looks very probable.
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