sp'60min
WTIC oil, weekly2
Summary
*The sp'500 is set for the fifth consecutive net weekly gain. Whilst the Transports - 'old leader', is set for the ninth weekly gain, the best run since March-May 2009
--
As for today, it'd seem we'll break new highs, with sp' 2050s, and R2K 1100s. VIX looks set to remain subdued, and will probably settle in the 13s.
-
Update from Oscar
It is interesting to see that Mr C is still warning about the viable 'failed head test' of what is a large H/S formation for most equity indexes. Technically, so long as we don't go above the Nov'2015 high of 2116, the bearish formation is intact.
--
Overnight action
Japan: broadly weak, -1.2% @ 16724
China: solid gains, +1.7% @ 2955.
Germany: currently +0.3% @ 9921.
--
What am I doing today?
Well, not only am I now seeking R2K 1100s, but I'd prefer to get involved once Oil is in the $44/45s. Clearly, the latter is out of range today, so I'm still in waiting mode. Call it overly cautious if you like, but the higher we go, the safer the next short trade shall be.
Have a good Friday