10am update - here comes the QE-pomo money

The main indexes open moderately higher, but things are looking tired. Moderate 'natural' downside seems likely, yet we have a huge 5bn of QE that will arrive via the primary dealers this morning. Its going to be extremely difficult for the bears to take control today.


sp'60min

SLV'60min

Summary

All things considered, I just can't see the bears having any significant power today.

Its opex, a traditionally choppy day, and with big pomo, the market has a massive bid under everything.
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SLV is lower, but nothing significant at all...yet.

UPDATE: short-stopped out of SLV, moderate gain. It'll do.

I might take a trade later today.
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10.30am.. not looking good for the bears, with sp'1659. How about a close in the 1670s?

Hourly MACD cycle offers 5-10 hrs UP, which takes us into next week.

won't take much now to cause a short-stop cascade, and we'll be in the high 1660s.
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