Tuesday, 2 December 2014

12pm update - interesting afternoon ahead

US equities are still holding gains, with more significant upside in the Trans/R2K. Price structure remains a bear flag, with viable downside to sp'2020/15 in the near term. Metals remain weak, Gold -$12, whilst Oil is -2.0%.


sp'60min




sp'daily3 - fib levels


Summary

*I'm tired.. and I really should be somewhere else right now...
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If you believe sp'2075 was a near term top.. then the fib chart offers high chance of 2015... if not 1980. However, the 50dma is rising, and that will be damn tough to break.

In any case... sub'1900s are impossibly out of reach. The sp'2100s remain a valid target.. whether late Dec' or January..  it should make no difference.

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VIX update from Mr P.


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time to sleep.. or something.    Back at 2pm