Monday 11 August 2014

1pm update - holding the gains

US equities are very resilient so far today, with sp' holding gains of 0.5% in the low 1940s. First upside target remains the 50 day MA of 1955. Metals remain weak, Gold -$4. VIX is getting crushed, -12% in the 13.80s.


sp'monthly2


Summary

*a brief look at the giant monthly cycle.

Most notable.. upper bollinger.. 2040s.. which would be a prime target by late September.

I realise that probably feels a long way up.. but we're only talking about 5% across 5-7 weeks. Very viable.
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Something that I am also noting.. the lower Keltner...currently around 1600. By late autumn, that will be in the upper 1600s. Certainly..it will be difficult to break into the 1500s.. no matter how 'spooky' geo-politics might get later this year.