10am update - Benny at the Senate

The market is holding moderate gains, ahead of what will probably be the last appearence of the Bernanke before the US senate. Hourly index charts are offering upside into the sp'1690s, and the 1700s look a given in the current up wave.


sp'60min

Summary

New high for the Dow and R2K
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**special note...

I am seeing a LOT of people who are thinking the current up wave will complete some time next week.

I had been looking for a cycle peak in early August...but perhaps the consensus in chart-land is right.

I will endeavour to keep an open mind on this..but what is clear right now..the up trend...continues.
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10.32am..well, there are the 1690s....1700s...no doubt about that.

The only issue I have is whether we see 1720s...40s..or 60s.