Tuesday 2 September 2014

11am update - Transports powering upward

US equities have seen some minor mixed chop, but price action is the same... with underlying upward pressure - as reflected in new historic highs in the sp'500 and Transports. Metals/Oil remain very weak, with the USD on the climb.


Trans, daily


Summary

*there is notable weakness in commodities, as the US dollar continues what appears to be a very important multi-month climb.
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So, we've now two new index highs, and its not even lunch time!

Price structure on the Transports was a two week bull flag... and that has been confirmed with the new high.
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Upper weekly bollinger will be offering sp'2030s by Thur/Friday...a mere 1.3% higher.. very viable.