1pm update - so much for the downside

The main indexes are now back to green...and the earlier low of sp'1760 is fading away far below. The bears face a market with huge underlying upside pressure. Even moderate declines of 0.5% are continually being bought.


sp'60min

Summary

Tomorrow will likely be a bigger problem for the bears, with sig' QE. If the daily momentum starts to tick higher...a weekly close in the 1780s is now viable.

Frankly..it remains an untradeable market for the bears, and is...Best. Left. Alone.
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Notable strength in DRYS, FB, RIG, TSLA.


sp'daily5

A real mess for the bears if we close >1775 today. Hell, even the 1790s would be viable by the Friday close.


1.35pm.. sp' making a play to break new highs >1775.

If so..that will surely rule out the 1730s (if only!)...and instead.. a straight run to the 1800s.