10am update - morning chop

The main indexes open with moderate gains, but there are a lot of black-fail candles on the 15/60min cycles. Despite the chop, bears still seem powerless, and there would seem little reason why today will be any different to the previous 20 days.


sp'60min

Summary

So, a bit of mixed chop, and frankly, I don't sense the mood is any different to yesterday.

Does anyone seriously think the market is going to decline significantly today?

*bears should keep in mind there is a rather huge QE tomorrow....there will no doubt be many front running that.


*I am long SLV.

An exit above yesterdays high would be...useful.

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