10am update - opening moderate weakness

US indexes are seeing another bout of moderate weakness, with the support zone of sp'1875/70 marginally broken. Equity bulls should push higher into the late afternoon, for a weekly close in the 1880s. Metals are holding moderate gains, Gold +$8.


sp'60min

Summary

*I picked up a third long position, STX, from the 53.50s. Seeking a provisional exit in the 57/58s, and will thus hold across the weekend.
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So..a little weakness, but still...I just don't see any significant power on the downside.

With 2 sig' QE next Mon/Tuesday, bears face problems into Wednesday afternoon.
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Notable weakness, OPEN -3%...having broken the floor yesterday.


A look at AMZN...

AMZN needs to hold the $300s, or next level is around $260/40 zone. I guess the notion of PE 300s is not exactly enticing many today. Shame.


10.22am... market stabilising, and bears are in trouble again.