The market continues to perform strongly . There is no sign of reversal at this stage. The resistance is not far from current levels but we haven't reached it yet.
The Sigma Smart Money Index is right below its resistance. If this index is able to move above the pink line, the major negative divergence that we have been underlining for a couple of weeks will be cleared.
There is no new information from our indicators but the Sigma Trend Index remains well above the key '34' level.
The ST model computed new stop levels for some positions:
Short Term Trading Book:
- SPX: long at 1787.18 (stop @ 1759, 3pts below the ST model to take into account bid/ask spread)
- NDX: long at 3475.53 (stop @ 3393, 5pts below the ST model to take into account bid/ask spread)
- CAC: long at 4115.38 (stop @ 4073, 5pts below the ST model to take into account bid/ask spread)
- DAX: long at 9164.04 (stop @ 8958, 10pts below the ST model to take into account bid/ask spread)
- EStoxx: long at 2974.13 (stop @ 2918, 5pts below the ST model to take into account bid/ask spread)
Medium Term Trading Book:
- No more medium term position at this stage.
Out of model position: (in case of a blow off rally like in 2000)
- 1 call NDX January 2014 strike 3700 @ 5.06
