Wednesday, 16 December 2015

3pm update - a third net daily gain

US equities are battling for the third consecutive net daily gain, as the Yellen continues the press conf'. With the Fed raising rates by 25bps to a target range of 25/50bps, the uncertainty is out of the way... and broadly, the market should be able to rally into early 2016.




I would imagine there is still threat - but decreasing each hour, of a cool down to the sp'2025/20 zone (with VIX 20/21).

A daily close >2065.. will give strong clarity the 2100s are coming.

*more than anything is incredible how relatively stable all aspects of the capital market are right now... currencies, bonds, equities, are all trading very well, after what was a very key financial event.

As for Yellen....

Terminating ZIRP

So far she hasn't given the market an excuse to flash lower...  and as I type... sp'2065.... the bears are losing ALL reasonable hope.

2.59pm.. The 2pm hourly candle... POWERFUL.... breaking about declining trend/resistance.

Market could close around 2075...    and that would likely make 2025/20 out of range in the near term.

3.00pm....  Hey... look who is trying to pass himself off as a media hack...

Its a rather mediocre disguise...  the Ben Bernank is there to protest against end of ZIRP ?

ps.  Every time Yellen uses the word 'transitory'.. it adds 8pts to the Dow.

3.19pm... sp +22pts @ 2065... trading above the 50/200 day MAs.  . with VIX 17s.

Difficult to envision market selling down to 2020s now...  as Asia/EU markets will likely rally tomorrow.

3.24pm.. Two uses of 'transitory' in a single sentence.. so that is 16pts to be added to the Dow.

... and a third....  lol

Sp' is battling for a close >2070..

... a fourth transitory in 90 seconds.   Thats 32pts for the Dow

3.31pm.. Market is breaking UP and away... sp @ 2071.... as bears getting ground OUT.

3.34pm.. POWERFUL gains for the two leaders - Trans/R2K... 1.7% and 1.4%... confirming the market is headed UP.

3.37pm.. Yellen wraps up... sp'2073... with VIX 17s....   pretty clear now... isn't it?