2pm update - building gains

The equity bears are getting routed, with the market seeing another micro cycle into the mid sp'2040s. A break above the 50dma (2044) would be very significant, and open up a test of the key resistance at 2064 before the weekend. Metals remain weak, Gold -$10, whilst Oil is soaring +6.4%


sp'60min

Summary

Suffice to say... who the hell will want to be short now?

Not only a break of the down trend, but price action looks pretty strong. Whether we close above.. or below the 50dma shouldn't be a major concern for the bulls today.

Personally, I'll have no part of this madness today... there is no clarity right now.
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Notable strength... TWTR

With earnings at the Thursday close... this crazy momo stock could be some 20/25% higher by the Friday close.