sp'60min
vix'60min
Summary
A touch of morning weakness seems likely..and natural. A retracement to somewhere in the sp'1627/23 looks viable by 11am.
Underlying price momentum is swinging towards to the bulls, supported by the hourly and daily charts.
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*I will look to pick up a small index-long block later this morning. I'll be looking at the 15min index cycles.
Best guess, we floor some time between 10.30/11am, around sp'1630/25, with VIX +5%.
I expect the indexes to close at least moderately higher today, with further upside across Monday
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Video update from Mr Carboni...
Naturally he is bullish, but at least no mention of the 'new world economy' today.
Hmm, an SLV short sure looks good on the 60min /daily charts...
bearish pennant, set for the 20/19s First resistance 21.20, anything <20.90 end Friday, and that will break the floor.
9.02am. Metals snap higher on producer prices data. Silver jumped almost 3% in a few seconds!
Main Market indexes still look set to open slightly lower, with possibility of weakness into late morning.