Thursday 24 January 2013

11am update - the big sp'1500

Its been a long time since we saw the sp'1500s. Meanwhile, the Transports is showing continued strength..and its in an accelerated stage. A blow-off top, or just relentless ramp - fuelled by POMO money...for years to come? VIX is holding fractional gains.


sp'daily5



Trans, daily



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Summary

Still no sign of the indexes levelling out, quite the contrary in fact..as the Transports shows. The big 6k level is now easily within range.

To my own surprise, I still don't see many out there suggesting sp'1700s - with Trans @ 7k by year end.

The 'Bernanke bux',...are fuelling much of this..and it is scheduled to NEVER end.

Its probably time to get the Birinyi ruler out.