Tuesday, 2 December 2014

Closing Brief

US equities built notable gains across much of the day, sp +13pts @ 2066. The two leaders - Trans/R2K, both settled higher by a rather significant 1.2%. Dow broke a new historic high of 17897. With the renewed gains, near term outlook is 'mixed'.




*price structure on the smaller 15/60min cycles remains a bear flag, first 'soft target' would be sp'2020/15... but clearly, that is more likely next week.

In many ways, with the hyper-ramp from sp'1820 that we've seen, even retraces are more often about trading sideways, than actual price declines.

It is thoroughly depressing, and I'll have no part in trying to trade what are (at best) minor retraces.

a daily wrap at 8pm