10am update - bulls terminate the down trend

The market is seeing moderate gains, and they are more than enough to break the 5 day down trend from sp'1729. The sp' is back above 1700, with the VIX already -2.8% in the 13s. Any daily close in the 1700s should be enough to clarify a major new up wave is beginning.


sp'60min

sp'weekly8

Summary

We could see chop all the way into the weekend in this 1695/1705 zone, however, with weekly charts still outright bullish, a weekly close >1710 is now viable.

That would be extremely bullish for next week...the start of October/Q4.

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There are 3 fed people speaking today, so..Mr Market could get a kick from either of the latest fed-speak.

Bears..beware!