Whilst US equities battle to hold significant gains, back in the sp'2040s, there remains the ultimate issue... will the market see an epic fail at core resistance? An October close above the monthly 10MA - currently @ 2046, would be very bullish into year end.. and across spring 2016.
I endeavour to keep an open mind.. and it will always be important to 'think the unthinkable'.
The current green candle on the monthly chart should scare the hell out of those who believe we are due some degree of renewed collapse wave. We sure didn't get any green candles in the previous two grand down waves, did we?
Neither did we get any monthly closes above the 10MA.
I realise some out there will claim I am over simplifying matters.. but really.. price is all that really matters... and right now.. the market is on the edge of a massive recovery/breakout.
So, go stare and dwell on that this hour.
back at 12pm