Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.

— Marcus Aurelius


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Wednesday, January 2, 2013

2013 quick look

Quick look at the first day of trading.

FC resolved (Fiscal Cliff)

Underlying trend has been and will continue to be up; liquidity picture has not changed and Japan wants dollar yen to 90 will add more liquidity to global financial system.  Retail investors have shunned equities for a few years now.  US markets have been under-performing Europe recently, so expecting catch up, especially in the TECH sector which has been hard hit buy AAPL.

Pluses for continued upside:
Global liquidity
Transports breaking higher
European indices breaking higher


December post shows FTSE breaking out, here

Looks like this will continue and head towards 6100 where stiff resistance so expecting a retrace near there. Possible short term short scalps..but safer play will be buy the dip.

 daily similar to FTSE heading to 8,000
Weekly chart shows levels more clearly

some FX

EURUSD  previous post here
Still on track for higher levels..
best guess is break 1,33 to go to 1,34..then a pull back before heading higher.


Declining resistance near 1.64
1.63 also resistance
breaking 1.63 targets 1.68
extreme upside target (unlikely) 1.72

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