sp'60min
Summary
Well, here we go... its quad-opex, and naturally some out there are calling for an imminent crash under sp'2K... and to the 1800s.
I still find such talk as pure nonsense, as the same people were saying there would NEVER be an int' rate rise. Ohh, and they were also the same people relentlessly top calling since 2010/11.
Today will be rather key.
Best guess....a morning floor in the 2025/20 zone....but closing with net daily gains >2041.... probably within the 2045/50 zone.
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Update from Oscar
As someone who has followed Oscar for many years, it is very kooky how spooked he is becoming.
I am in full agreement that the current rally MUST break and HOLD new highs, otherwise... we'll have a grand top. If that is the case... first 'soft target' would be the sp'1600/1550 zone.
Anyway.... first we need to see how we close the week, month... and year.
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Overnight Asia action.
Japan: -1.9%... unable to hold the 19K threshold
China: effectively u/c @ 3578.
With 8 trading days left of the year for the Asia markets... neither market looks set to re-take the monthly 10MA.. with price structure... a giant bear multi-month flag.
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Have a good Friday.