Tuesday 23 July 2013

3pm update - more of the same

Just another day of the same old...nonsense. Algo-bot melt..fuelled by QE. A close in the sp'1700s looks viable..not that it matters. Bears remain utterly..and laughably powerless. Oil now holding gains of 0.6%, $110s are a'coming.


sp'daily5



Summary

RE: daily chart count.

There is actually little reason to believe sub'3 is complete yet.

The recent decline that many label as 4' really doesn't look enough to merit it.

Anyway, primary trend remains strongly higher...only a maniac would consider shorting this week.
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Gold jumps $10..and Silver is back to flat (it does tend to be weaker more than gold).

Very frustrating day...I suppose it could be worse.