12pm update - its still a bear flag

We're seeing a lot of the weaker bears getting short-stopped out, and a few bulls are starting to chase this market higher. Volume (I believe) remains relatively light, as most of the bigger players are content to wait for clarity into tomorrow.


sp'60min

sp'daily5

Summary

We're back at the old resistance zone of 1430 again, bulls would most certainly be seeking a close around here.

I can understand those bears who are now fearing a mega post-election ramp into the 1500s. It is viable, we'll know if we get a close >1445/50 later this week. Yet, the daily charts are still sporting clear bear flags, and until we break significantly above them, they are still...bear flags.

I'll be glad when this election uncertainty is over with. Its really starting to annoy me.

time for lunch, back at 2pm