Monday 16 December 2013

12pm update - bull flag on the weekly chart

The more important weekly cycles are offering a rather clear bull flag,, as seen best on the Dow. The once laggy Dow is holding above the old six month trading range. End year target is 16300/500, if the Fed doesn't upset anyone!


Dow, weekly


Summary

*baring a weekly close <15650, it remains pretty bullish
--

Despite the opening gains, its pretty quiet out there, where is everyone?

Once Wednesday is out of the way, it will probably just be a case of algo-bot melt into year end. Unlike last December, market seems utterly unconcerned about any budgetary/debt ceiling issues...at least for now.
--

VIX update from Mr T.



time for lunch!


12.36pm.. a very clear small bull flag on the 15min index charts.

Anyone getting overly excited about the morning pull back..., err.. no...we ain't closing red. Go stare at that weekly chart for the rest of the day.

Yes, VIX is green...but then..we have the FOMC this Wednesday.
-