2pm update - key resistance in the 1810s

The market is holding onto significant gains of around 1.2%, with the sp' in the 1790s. A further day or two to the upside seems likely, before the trembling resumes. Metals remain weak, Gold -$26. VIX is quietly melting lower, -6% in the 16.20s


sp'daily5

Summary

The 10 and 50 day MAs are both indicative of where the wall is.

Any daily closes >1820..and the near term bearish scenario gets dropped, otherwise...its a simple re-short.

For the big money out there..the risk/reward will be good, 1% upside..whilst downside of 7% or so.
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Patience....bears.....patience.

*CNBC continues to provide comedy gold today, with their relief at the market rising.
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AMZN have earnings at the close. Did they actually turn a profit in the Christmas season?

Weekly/daily charts offer upside to 425/430, to those who don't care about valuations.