Friday, 20 February 2015

Closing Brief

US equities melted higher into the weekend, sp +12pts @ 2110. The two leaders - Trans/R2K, settled higher by 0.6% and 0.3% respectively. The bigger weekly cycles will be offering stiff resistance in the sp'2110/20s, but at best.. any retrace is likely to not go much below sp'2050.



... and one of the most tedious weeks for some months comes to an end.

Without question, equity doomer bears have been teased by the 'Greek situation'. Perhaps most lame of all, even if a GREXIT does occur end Fed/early March... the market looks like it would sell off maybe 3% or so.... holding the 50dma of sp'2050s.

.. ohh.. and there QE-pomo train arrives in the EU next month.

Lets be clear... a LOT of that 'new money' will be converted to USD, and those dollars will be used to buy.... equities.

Have a good weekend.

*a full set of bits and pieces to wrap up the week... across the evening.