1pm update - afternoon chop

The main indexes are holding moderate gains. Most notable, the NYSE Comp' broke 10k today, with the Trans' coming within 25pts of hitting the big 7k level. Regardless of any minor weakness in the remainder of the week, underlying upward pressure is strong.


sp'60min

Summary

A baby bull flag on the hourly index charts? There is an obvious gap in the low 1730s, and maybe that will be filled later this week. Yet..that minor downside doesn't merit a short-side trade, Overly risky, whilst the broader trend is strongly upward.
-

However you want to count this nonsense, this remains a VERY powerful up wave from the sp'1646 low..which as of this morning was 113pts lower!
 -

NFLX looks floored on the micro 5/15min cycles...

5min cycle

A late day ramp to 355/360...would be the natural target.


1.20pm.. sp' holding the 1750s pretty well. With QE tomorrow, equity bulls should be charging for a break into the 1760s, although a daily/weekly close >1760 will be real tough.

NFLX remains entertaining to watch...its holding the 330s..and there is real risk of late day closing ramp. Prime time for a snap higher...2.30pm or so.