Monday, 27 April 2015

3pm update - a new high is a new high

Despite some moderate weakness into the afternoon, it has been another day for the equity bulls, with the broader upward trend resulting in another pair of new highs (sp'500/NYSE comp'). With just 3 trading days left of the month, most indexes are set for net monthly gains of around 2%.



*notable weakness in the R2K, -1.1%.. sitting on rising trend that stretches back to October.

Despite the currently red indexes.. it is utterly a joke for any of the doomer bears to be calling this anything than what it really is... another day when the broad based sp'500 achieved a new historic high of 2125.

Back in early summer 2013 when I waved the white flag against the deflationary collapse scenario - that many still cling to... well, we were in the sp'1500s then. 

We simply won't be trading under those levels... again.

notable strength: AAPL, +0.9% in the $131s.

Without question, one of the top 3 tech companies in the world.. set to report in AH.. probably around 4.30pm. The $140s are just about possible if expectations are surpassed.

back at the close