Friday, 8 August 2014

2pm update - bouncing into the weekend

US equities are breaking out of the down trend, with the Dow +150pts, and sp +17pts @ 1927. The R2K has broken into the 1130s... opening up 1170 next week. VIX is cooling, -5% in the 15s.


sp'60min'3 - fibs


Summary

*more than anything right now... the ultimate question is can the bulls break back into the 1970s...opening up the giant 2000 threshold.. before this entire madness from Oct'2011 is wrapped up?

Monthly cycles suggest NO.
...but a fair number of the better chartists out there are suggesting the 2030/50 zone by late Sept/Oct.
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*I remain long from sp'1912...seeking an exit in the 1960s... but clearly. that is going to take some days.