10am update - set to rally

The main indexes open a touch lower, but the market looks set to rally across the day, with a close in the sp'1800s. Precious metals are reversing much of the Wednesday gains, with Gold -$20. Equity bears face continued problems into year end.


sp'60min

GLD, daily

Summary

Well, I think we're headed up..despite the opening weakness.

Hourly MACD cycle looks prone to climbing higher as the day progresses, and that will really put pressure on the bears to cover.
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A long day ahead....lets see if the bulls can manage that daily close in the sp'1800s.


10.30am.. market remains a little weak, but the hourly charts continue to warn of potencial upside as the day progresses.

Notable strength in DRYS, +5% in the $3.50s.