Wednesday 17 December 2014

Closing Brief

US equities built solid gains across the day, sp +40pts @ 2012. The two leaders - Trans/R2K, settled higher by 0.8% and 3.1% respectively. Outlook is that a key floor of sp'1972 has been put in, with the sp'2100s now due no later than January.


sp'60min


Summary

With the market holding the early morning gains.. the 1950s quickly became out of range.

The daily close is EXTREMELY bullish.. and we're now well on the way to the sp'2100s.

The real question though.. why would it stop there? I'm increasingly of the view of a straight up run to 2300s by late spring.

In any case.. I would hope at least 'most' of the bears cashed out from Fri/Tue... and some of you might even have gone long :)
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Have a good evening...


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A full set of updates across the evening....