10am update - mixed open

Good morning. Moderate opening gains, and for the bulls, we have a clear breakout of the wedge/upper channel on the sp and transports index. VIX is flat, shows no sign of significant upside.

*awaiting factory orders data at 10am


iwm'60min

sp'60min

Summary

IWM and the Dow are still holding below their upper channel, but SP and the Transports have clear breakouts. Its a bit of a mixed picture, but generally, it has to be said...bullish.

The daily SP' looks pretty much like the bears have failed.

Unless the bears can close somewhere in the low 1440s today, then I'd guess...bulls win again, and we'll see new index highs within a week or two. Urghh !

Another lousy open for HPQ...$10 is a'coming.

back at 12pm.