The market is seeing something of a renewed battle. Bears just need to break <1772, whilst bulls only need >1777. Metals are slowly building gains, Gold +$11, whilst Oil remains weak, -0.9%. On balance, the broader market should manage to claw higher into the Friday close.
*the strength in TWTR remains pretty bizarre. A loss making social media company...now worth 3 times what many said just a few months ago.
As for the main market...bears should be very mindful that the hourly MACD cycle looks floored. The longer the bulls can merely hold above 1772..the more secure the floor.
The situation is indeed very much like Thursday Dec'5...where we battled it out..only to snap higher on the Friday.
VIX update from Mr T.
time for tea !
12.24pm.. market clawing higher...with risk of afternoon snap higher. A close in the 1790s sure would make for an interesting weekly close.
FB powering higher..into the $53s.
12.40pm..ramp..early phase...the 1-2pm hour could be rough for the bears...urghh