Friday, 5 September 2014

2pm update - strong week for the Transports

Whilst the broader market saw moderate chop this week, it has been an especially strong week for the Transports, currently holding a net weekly gain of 2.1%. It bodes well for the rest of the market across the next two weeks.



Little to add.

No doubt, many bears are very disappointed at the market reaction this morning. It was a very sig' jobs miss, but still... Mr market has little care for such things.

We're still broadly trending higher on a multi-week basis... primary target zone remains sp'2030/50 into the next opex of Sept'19th.

Notable weakness: TSLA, -3.7%.. arguably, solely due to the CEO - Musk, suggesting the stock is priced 'high' in the near term. I have to admire him for that much.