Thursday 8 October 2015

3pm update - net daily gains

US equity indexes are set to close moderately higher.. but most important of all, above the psy' level of sp'2000.. and the 50dma. Next soft target is the 2015/20 zone.... but equally probable... the 2040/60 zone. Until a monthly close above 2050.. the bull maniacs still face a serious threat.


sp'daily5



VIX'daily3



Summary

*VIX is set to close lower for the eighth consecutive day.... having flash-printed to 16.34.
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So.. we broke to the upside.. as seemed probable.. and we're now set for a straight run to the 2040/60 zone.

I can't emphasise enough the importance of the monthly 10MA. I realise others have different thresholds.. but for me.. that is the grander 'line in the sand'.
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notable strength: NFLX +5% in the $113s.. as Jessica Jones is on her way.
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... ohh, and we have Alcoa earnings at today's close.
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3.14pm... WTIC Oil has provisionally broken the $50 threshold.. to 50.07.... next target is the 55/57 zone... which is a clear 10% higher.

.. and that is viable within days as there will no doubt be a LOT of bullish chasers and bears who will need to cover at any price.
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NFLX still building powerful gains, +5.7% in the $114s.