Monday 16 June 2014

10am update - indexes breaking upward

US equities open a touch lower, but there is already a clear turn, and we look set for a daily close in the sp'1940s, which easily opens the door to new index highs within a few days. Metals are turning lower, with Gold -$2.


sp'60min


Summary

*R2K looks especially bullish, upside is 1190, which is a clear 2% higher, and that sort of level would break the recent high...negating the remaining bearish H/S scenario.
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So..we're already net green...and the QE fuel hasn't even yet been dumped on the market.

What would be especially bullish, a close in the 1950s.. but that would be quite a gain to start the week.
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I am holding LONG, ... am not interested in exiting at current levels.