sp'60min
Summary
I noted last Friday, an opening Tuesday gap higher of 20/25pts seemed probable, and here we are.. .set for the sp'1885/95 zone.
Its difficult to say if we'll see a daily close in the 1900s today, but it looks a given as the week proceeds.
Equity bulls look set to continue a bounce into next week.... before the market will likely get stuck around 1920/30.
*I'm well aware some are now touting 2000, 2040/50... or even an attempt at new historic highs. Frankly. even the 2K threshold seems like crazy talk to me.
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re: Gold, GLD, daily2
We're naturally seeing a retrace of last weeks hyper gains. GLD looks set for 113/112... aka... Gold $1180/70. It is notable that overnight futures saw Gold hit $1191.
Broadly, the $1300 threshold looks an easy target on the next up cycle.
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Update from Oscar
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Overnight action
Japan: somewhat choppy, settling +0.2% @ 16054. It is of course notable that the Monday session saw a bizarre hyper gain of >1000pts ... although it seems most acknowledge it was mostly about shorts covering.
China: first trading day of Monkey year.......... +3.3% @ 2836
Germany: currently -0.4% @ 9169
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Have a good Tuesday