sp'weekly2
*the above chart is a simple one, strip away any numbers, and purely focus on the price structure. We ain't headed down, are we?
Summary
There is little to note, other than the bulls are in absolute full control.
I continue to see some who are touting this as merely a wave'2 bounce - after the recent 1687-1560 decline.
Err, no, considering the weekly charts, this is no wave'2, its a straight up ramp. Whether you want to call it a 'final wave'5'..or whatever, we look set to be breaking the sp'1700s soon enough.
Anyone currently shorting into the current rally, is arguably nothing less than a maniac. The fact there is another mid-size QE tomorrow..only adds to the problems the bears face.