Tuesday 19 November 2013

Broader outlook remains on track

Today was certainly an interesting start to the week. A latter day reversal - after new historic highs, with particular weakness in the once beloved momo stocks..and those 'not so shiny anymore' precious metals. Regardless of near term noise, the broader outlook remains on track.


sp'weekly8 - mid term bullish outlook


sp'weekly'4 long term bullish outlook


Summary

There really isn't much to add. Today was good in that at least another two big psy' levels were reached - all that is missing are the Nasdaq 4000s, not that it has to happen this week..or month.

The remainder of the year will surely reside largely on the side of the bulls..with a year end close somewhere in the 1775/1850 zone.


Looking ahead

There really isn't anything due tomorrow. The next main issues will be on Wednesday - retail sales/FOMc minutes.

*there is sig' QE-pomo....bears beware!
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A good start to the week (I'm short the metals..and am leaving those gods damn indexes alone until next spring)...I hope some of you are doing similarly okay.

Goodnight from London