10am update - pushing upward

A touch of weakness at the open, but the indexes are already making a play for the sp'1700s. Indeed, a weekly close in the 1700s seems likely, with the VIX melting lower. Metals and Oil are trying to recover from their opening declines.


sp'60min

Summary

I wish I could be bearish about the immediate term, not least for some kind of pull back. It would seem though, we're broadly headed up for a few weeks.

Yes, there is uncertainty until an actual bill is passed, but it would seem we will get the can kicked out to next month.

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*I have exited a small SLV position (short)..that worked out okay.

Am now long Oil..via USO, and will hold that into next week. If equities are going to rally from here, then Oil will likely be part of it.

USO, daily2

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stay tuned!
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Special update, on the weekly rainbow charts...flipping to outright bullish.

sp'weekly8

As I feared, it looks like we might close the week with very bullish charts..and next week target will be 1720/30s.