Good morning. Futures are moderately higher, sp +7pts, we're set to open around 1770 - a mere 5pts below the recent high. Precious metals and Oil are both initially higher by 0.5%. Equity bulls remain in control, and new index highs look viable today.
So much for even a move to the sp'1730s. That now seems unlikely, not least if we are trading >1775 sometime today.
For those who were bravely holding short overnight, this is a lousy start to the day.. well, aside from the TSLA shorts.
*there is sig' QE-pomo today, so..bears face serious problems.
Video update from Mr Permabull.
Not surprisingly, Oscar is looking for Trans 7300, along with further downside in Gold...and I'm in agreement with both.
Notable movers: TSLA, -$21 @ $155. The recent low of $153 is important. if that goes..then target zone is $110/100 within the 'near term'.