Wednesday 16 April 2014

10am update - down trend...busted

US equities open higher, and the primary down trend looks to have decisively broken, not least with a break above the 50 day MA of sp'1848. VIX has already lost the 15s, and looks set for the 14/13s into the 3 day Easter weekend. Metals are seeing minor chop.


sp'daily5


Summary

To me, it looks more than decisive, the down trend..is concluded.

Barring some truly bizarre 'omg, we're in trouble now' comments from Yellen this lunch time, the gains we look set to close in the 1850s, if not even higher.

Daily MACD cycle..ticking higher for a second day. No bullish cross yet...but looks due next Mon/Tuesday.

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For those on the short side...it is arguably white flag waving time.

*am having major computer issues again, urghhhhhhhh

If I disappear for an hour or two...that is why.