2pm update - AAPL not at the party

Whilst the broader market remains moderately higher, AAPL is having issues, currently -2.2% in the $107s. Next support is around the $105/103s. Considering the broader market, sustained action <$100 looks out of range.


AAPL, daily

sp'daily5

Summary

As for the broader market, price action remains unquestionably bullish, not least reflected in the Dow.

... and as a fair few will be aware.. some Golden crosses are due on some of the indexes in the near term.
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Q. Has Gartman capitulated yet?

yours.. not watching clown TV

1pm update - no sunshine for the bears

With the Dow breaking the key Nov' high of 17977, another line in the proverbial sand has been broken through. Regardless of nominal price levels, the real issue is how resilient the market was to an overnight oil smack down and further political upset... it just doesn't care.


Dow' daily

Dow' weekly

Summary

With a break >17977, the Dow has quickly taken out the 18K threshold, which the cheerleaders on clown finance TV have been recently seeking.

Next natural target is the upper weekly bollinger is in the 18300s.. where the May' high is.

I realise some are touting sp'2092 as key.. but really... the markets response to Oil.. and even Brazil.. is arguably far more important.

With the break of the Nov' high, I would argue even if by some miracle we see a cool down to the lower daily bollinger (17400s.. but likely to soon rise)... that no longer matters.

7 trading days.. and the Fed could even get away with a rate rise... and the market would try to take it as a bullish sign... right?
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Here in London city...

Depressingly appropriate.
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12pm update - on the edge

US equities remain moderately higher. Most notable remains the Dow'30 index, which has now come within a single point of breaking the critical Nov' high of 17977. Any price action >18K would be highly suggestive that the unthinkable is going to happen. VIX is entirely reflective of ZERO market concern.


Dow'daily

VIX'daily3

Summary

Little to add, on what is truly a day of utter bullshit.

Not only did we see the market only fall by -0.6%.. as Oil imploded by -6% overnight... but it only took the market 30mins to turn positive.

For those as pissed as I am....   maybe take the rest of the day off.

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*yours truly is still holding short, but I'm beyond tired. Its not even about the $ loss, more so.. about that increasing likelihood that the equity bull maniacs are about to take full control, and then take the market massively higher.
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back later