Monday 24 November 2014

2pm update - I'm not in index shorts

US equity indexes remain in a starkly bullish posture, with the sixth consecutive green candle on the weekly 'rainbow' chart. There is little reason why the sp'2100s won't be hit before year end. Without question.. this is no market for index shorts.


sp'weekly7- bullish


Summary

Suffice to say, general price action is quiet, and things will surely get even quieter as we approach Thanksgiving.

No doubt, retail stocks will be of greater interest once the initial sales reports start appearing late Thursday/early Friday.

Time for the dumb sheep to rack up more credit card debt, buying more junk they don't need. Yeah.. that IS the spirit of Thanksgiving.

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yours... still here.. and not going anywhere.