sp'daily5 - near term 'best guess'
Nasdaq Comp
R2K
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Summary
As I was expecting in the closing hour, with the 5/15min micro-cycles fully reset, the bulls managed a little ramp into the close, and it was a pretty nasty close for those bears still holding on the short side.
Bulls are in absolute control, and there is little reason why the sp' won't be trading (at least briefly) in the 1700s early next week. I say briefly, since next week is opex, and the Bernanke is due to speak to the US house/senate, which will probably be an excuse for a very small wave lower, in the latter half of the week.
It remains a nasty, deluded,...and Fed supported market. It makes me wonder if Bernanke's replacement (probably Janet Yellen) will be even more annoying to the bears.
I'd have to guess...probably.
a little more later...