11am update - bearish growls of pain

The main market is holding much of the opening gains, and with heavy QE today, what sell side volume there is..is going to be largely negated. Equity bulls should be content with a weekly close above the bull flag line of sp'1793. Metals are holding gains, Gold +$7.


sp'60min

Summary

So..what now?

There remains a chance this is merely a wave'B...with a C' that will last most of next week.

Problem for anyone short this...if we close today at least >1793, there is further sig' upside potential across Mon/Tuesday.

All things considered, the Dow daily/monthly charts should scare the hell out of the bears. They continue to warn of major upside into the spring, Dow 17000/500.
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As the sun sets..over the city of London...



stay tuned..

11.13am... a weekly dow close in the 16000s will be decisive enough to confirm much higher levels.

Indeed..a successful back test of the old resistance now a floor...classic text book.

I don't think I've seen a clearer example for a main index in quite a few years.