Tuesday 14 May 2013

2pm update - simply higher

The main indexes are still holding gains of around 1%. Precious metals and Oil remain the two weak spots, but even those declines are only minor. Near term trend looks relentless. Algo-bots have potential for melt into the close, with sp'1650s.


sp'60min


Summary

Little to add, aside that with no sellers, its unlikely we'll see any weakness into the close, quite the contrary in fact.
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*The Oil report is tomorrow morning. I think there is still potential for a 1% drop, before much higher levels into the Friday close.





I will most certainly seek to go long Oil (via USO) after the EIA report tomorrow, a good time seems around 10.45/11am.