12pm update - holding the gains

US equities are holding significant gains, and equity bears look powerless. A daily close in the sp'2095/2105 zone now looks probable..  with a break above resistance of 2111 viable by this Thurs/Friday. Metals remain weak, Gold -$12, with Silver -2.1%. Oil is seeing some minor chop, +0.1%


sp'daily5

Summary

Bears are absent, and we sure ain't going to close net lower today.

I realise some will be calling for a bounce/secondary top in the 2002/11 zone, but really.. market looks set to continue climbing this week... so long as earnings keep on coming in at least 'reasonable'. Eyes on IBM this afternoon.

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notable strength: DISCA, +3.5%...

*earnings are not due until May 5'th.. a move to the 200dma before then  looks due.
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VIX update from Mr T


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time for tea