With the sp'500 and Dow following the Nasdaq comp' in breaking above their respective 200dmas, another tranche of equity bears are capitulating. With the USD +0.6% in the DXY 96.90s, commodities are under natural pressure, Gold -$4, with Oil -2.4% in the $44s.
There is a great deal to cover this morning... not least in commodity/currency/bond land, but ... I can't cover it all.
Suffice to add... we have decisive breaks in three of the main indexes. The weekly cycles are now outright bullish. The monthly cycles.. well, now its just a case of where we close next Friday.
FB +2%... breaking above the giant $100 threshold...
TWTR +3.5%... back in the $30s... ahead of earnings
AAPL +1.6% in the $117s....
To those still resolutely holding short from a few weeks ago... you don't have my sympathy. There is no excuse. The levels were pretty clear.
The biggest bearish case is utterly destroyed. ... ohh, but even now, I'd imagine some of you can't accept it.
Good luck with that level of denial.
Giant bull flag... close to being confirmed. If so.. metals/Oil are in dire trouble.