Monday, 26 January 2015

11am update - underlying strength

Mr Market has little concern about Greece, with all indexes in the process of turning positive. Metals remain notably weak, Gold -$14.. with a viable new multi-week down cycle now underway. Oil is holding minor gains of 0.6%


R2K, daily


*it is notable that the daily upper bol' on the sp' continues to tick lower.. .now around 2095. Certainly, there will be resistance in the 2090/2100 zone.

So... all those bears getting overly excited at the futures last night are already disappointed, and its not even 11am.

Any daily close in the sp'2060s would be a bonus, and open up 2090s by Thur/Friday... when we have the big GDP data.

*I remain long via the R2K, seeking an exit in the 1215/20 zone... certainly seems viable later this week.