Monday 16 December 2013

10am update - Dow re-takes old broken support

Equity indexes jump higher to start the last full trading week of the year. Most notable, the Dow, which has jumped back over the old broken resistance/support level. Equity bulls should be charging for a daily close in the 16000s this week. VIX is lower, but only by -2%.


Dow' daily


sp'daily5


Summary

Well, this is one way to start a week!

The triple floor of sp'1772 is now a strong floor, and with MACD daily cycle turns, bears have very major problems this week.

Hell, clown finance TV is talking about a market that has 'priced QE-taper' in, lol
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Notable Dow mover: XOM, +3%.. that is a major move for such a world corporate giant.

FB +$1..in the 54s...challenging the Oct' high. A break into the 55s, should confirm $60s will be hit.


10.32am..touch of chop..but the hourly and daily cycles now offering a clear upward turn.

Just a case of how high we close..and whether the 1800s are viable at the time of the FOMC.

With sig' QE today..bears face..too tough a task.