3pm update - closing hour moon ramp?

Despite a good few hours of chop, the market looks set for a closing hour moon ramp.  First upside target is sp'1600, but a close in the 1608/10 area is very viable. VIX is weak, and could easily close lower by 10% or so, the upper 16s seem possible by late Monday.


sp'60min

Summary

Its been a good week for the bears, but hourly charts are highly suggestive of upside into the close, with a large gap higher on Monday.

The utter irony of my week is that all my gains were made on the long side. A twisted world indeed.
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3.33pm.. sp'1598...we're on track for 1620s on Monday !

3.48pm... sp'1591.. a touch of weakness, but really, bears have no reason to be short into next week.

back at the close