Thursday 14 August 2014

10am update - another day higher

US indexes open slightly higher, and Mr Market looks set to build gains this morning. An attempt to break the 50 day MA of sp'1956 looks likely. A daily close in the 1960s would bode for a straight run to the 1980/90s next week


sp'daily5


Summary

As the lightning bolts start to rain down in London city, we've already moved into the 1950s, and the 1960s are within range late today.

Most notable - at least to me, the daily MACD cycle. We haven't even got a bullish cross yet..and the MACD is not even positive. There is easy opportunity to climb for another few days.. which would get us to sp'1970.
--

Notable strength: airlines... DAL, UAL... - see my 'fair value' post for more on those.

--

10.29am... DRYS $3.20.... breaking out... on its way to $4 in September.

Transports are flat overall, but look set for net daily gains.