3pm update - melt into the close

Market is holding gains of 0.6%, and with it being so quiet out there today, there is no reason why we can't melt higher into the close. Bears with short stops in the 1563-65 zone are in real trouble this closing hour.


sp'60min

Summary

No reason to expect the market to slip lower.

The micro-count on the hourly chart is very 'unreliable', yet, the daily chart MACD cycle is now ticking higher..so...up for 2-3 days...probably.
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*Oil continues to ramp, and is now trading at the old broken neckline in the (USO) 34.40/50s.

back after the close