Monday 28 October 2013

2pm update - an FOMC spike to 1780?

The daily index charts are offering a brief spike into the sp'1780s this week. The issue then, can the bears achieve another Fed day reversal like this past May, on the order of 1780s, and closing in the 1750s? Regardless, it will be difficult, whilst the weekly/monthly charts are pushing higher.


sp'daily6 - bol/keltner bands


Summary

Certainly, there is some similarity in the current price action to May. I sure won't be getting involved though. Tired of it....way ....way.....tired.
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*AAPL earnings at the close...


Hourly chart looks floored. Daily, weekly, monthly cycles..now all bullish.
Best guess...545/550