hereward the wake
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Dom today
From The Trader
Daily market outlook
17 February 2014
EUROPEAN OVERVIEW
It’s all looking pretty good as we enter the new week. Granted, the economic data out of Japan was a bit ropey. But that merely makes more likely an intensification of the Bank of Japan’s money-printing drive, which in turn should goose equities further. Meanwhile, the rally in US, UK and German equities looks well underpinned. The S&P and DAX are within fairly easy reach of their recent highs, the accomplishment of which should settle the argument in favour of us bulls for the moment. I continue to seek to buy the dips.
Today's Market Focus
Sturdy S&P
Sturdy S&P
The S&P is well on its way back to the highs at 1851. The strong advances followed by shallow pullbacks are characteristic of a genuine advance, rather than a corrective rally, as the bears would have us believe it is.
DAY: I’d buy a bounce off the 21-fourhourly EMA.
POSITION: I’d buy a bounce off the 21-fourhourly EMA.
SUPPORT RESISTANCE
1825.1 1906.2
1814.1 1892.1
1777.4 1871.1
1767.5 1851.1
From The Trader
Daily market outlook
17 February 2014
EUROPEAN OVERVIEW
It’s all looking pretty good as we enter the new week. Granted, the economic data out of Japan was a bit ropey. But that merely makes more likely an intensification of the Bank of Japan’s money-printing drive, which in turn should goose equities further. Meanwhile, the rally in US, UK and German equities looks well underpinned. The S&P and DAX are within fairly easy reach of their recent highs, the accomplishment of which should settle the argument in favour of us bulls for the moment. I continue to seek to buy the dips.
Today's Market Focus
Sturdy S&P
Sturdy S&P
The S&P is well on its way back to the highs at 1851. The strong advances followed by shallow pullbacks are characteristic of a genuine advance, rather than a corrective rally, as the bears would have us believe it is.
DAY: I’d buy a bounce off the 21-fourhourly EMA.
POSITION: I’d buy a bounce off the 21-fourhourly EMA.
SUPPORT RESISTANCE
1825.1 1906.2
1814.1 1892.1
1777.4 1871.1
1767.5 1851.1
