Tuesday, 2 September 2014

12pm update - upside to the sp'2030s

US indexes continue to see minor chop, although there are notable new historic highs for the sp'500 and Transports. Metals/Oil remain significantly lower, as the USD (still King) continues a multi-month climb.


sp'weekly8


Summary

Little to add.

Whilst many continue to call for a dip, retrace..or 'grand wave lower'...the market continues -as a whole, to grind higher, not least reflected in the two leaders - Trans/R2K.

Upper weekly bollinger is now 2027...and will probably be around 2030 by Thur/Friday. For now..that is the upside target.. whether this week or next... makes no difference.
--

VIX update from Mr T.


--
time for lunch