sp'60min
sp'daily5
Summary
The hourly 10MA is @ 1584..and rising. By the end of today it will be 1591.
Bears need to break back below that today, or the chances of closing back in the 1570s tomorrow look very slim.
*I remain short USO, and looking to exit before the Friday close in the low 33s.
11.05am..well, we're at the top of the sp' wedge on the weekly chart.....yet the bulls can aim for the upper bol which is now @ 1613 ! urghh
This is the kind of 'extra nonsense' I was fearing yesterday, hence my switch from short equities..to short Oil. So far..the Oil is actually still down.
Despite the continued gains...the Trans, R2K ..still below their recent March highs.
11.29am.... sp'1597...and still rising. The big 1600s imminent. Incredible.....
I can only imagine how pleased the Bernanke must be. Clearly, the 'wealth effect' will trickle down into the wider US economy.
But hey..since when do we need jobs growth anyway?
11.42am...VIX is getting VERY close to snapping higher..breaking the down channel..and making the first move up.
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