3pm update - closing hour melt

The main indexes are strong, and look set for higher levels in the very near term, with sp'1700s. WTIC Oil remains particularly powerful, now in the $108s, and set for a test of the key $110s. Bears have nothing to look forward to..for at 'some days'.


sp'60min

Summary

Looks like a baby bull flag on the hourly charts. No reason why sp'1700s won't be hit tomorrow, even though its opex.

*the more I look at the hourly charts, the more I think we are still in a sub'3. If the 1740/60s are going to be hit...bulls need this sub'3 to at least hit 1720s.

Regardless, the broad upward channel is holding..and only a maniac would be building short-positions right now.


3.48pm.. sp'1687 is holding VERY well..and a new historic close looks likely.

back at the close.