Thursday, 25 February 2016

2pm update - pushing toward the 50dma

With no downside pressure, equities are seeing renewed upside, breaking a new high of sp'1942, a mere 3pts below the 50dma. A daily close close above the 50dma still seems more viable tomorrow. In any case.. once 1950s.. a straight run to the 2K threshold looks due in early March.




*VIX has naturally already fallen below the key 20 threshold.

If you assume sp' 2K... that will equate to VIX 16/15s by mid March.

I was browsing around, and I see a few touting a top in the 1950s. I can kinda understand that, but looking at dozens of individual company charts... we'll likely see a snap/break >1950.. and keep on going.

I see ZERO reason to get involved on the short side for another 8 days at the very earliest.

back at 3pm... for more exciting developments