Thursday 8 January 2015

12pm update - day'2 UP

Today is clearly day'2 of a new up wave... one that seems headed for the sp'2100s. No doubt a lot of top/crash callers will be appearing in late Jan/early Feb... but then... what else is new? Metals and Oil are both trading flat, despite the relentlessly climbing USD, +0.3% in the 92.20s.


sp'weekly


R2K, daily


Summary

I thought it was a bold outlook to see the sp'2050s by late Friday... and yet.. here we are.. sp'2060s.

Without question... things are back to 'normal service'. Market looks set to continue higher tomorrow on 'good jobs data'.

To my surprise, it looks like we'll see net weekly gains... with a very clear spike floor of sp'1992... already some 3.4% lower!

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VIX update from Mr T.


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*I remain long the R2K... am in no hurry to exit.
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time for lunch... back at 2pm