Thursday 12 February 2015

2pm update - monthly candles turning hyper bullish

With continued gains to sp'2085 - a mere 8pts shy of a new historic high, the monthly cycle charts are now presenting powerful bullish engulfing candles.. having broken above the Jan' highs. It would seem unlikely the bears can restrain the market from clawing higher to at least the sp'2110s


sp'monthly



Dow'monthly


Summary

A net daily decline now looks completely out of range, and we're almost in classic algo-bot melt mode.

VIX is confirming the growing confidence that the 'Greek situation' is of no importance.. and that everything... yes... EVERYTHING... is fine, -7% in the 15.70s.
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Notable strength: AAPL +1.3% in the $126s