Tuesday 29 April 2014

1pm update - Nasdaq set to break higher

Even the battered Nasdaq is set to break significantly higher across the rest of this week. First target is decending resistance around 4150. Once broken, easy upside to 4200/50 within a day or two. Meanwhile, the VIX is once again in melt-lower mode. The 12/11s are coming.


Nasdaq Comp', daily


Summary

*earnings at the close, EBAY, TWTR, and STX (the latter of which I'm long).
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Suffice to say, regardless of ANY minor intraday chop, we're seeing this steamroller of a market turning back upward.

With sp' in the 1880s...bulls are back in control. All that is necessary now, a daily close >1884, whether today, tomorrow..or later this week...makes little difference.
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yours.. still heavy long..and having a 'reasonable', if tiresome day.