1pm update - momo stocks looking strong

Whilst the main market continues to see some minor weakness, the real action is in the momo stocks. The usual suspects...FB, TSLA, NFLX, and TWTR, are all significantly higher, and arguably indicative of a market that will rally into year end. Metals are stuck around old broken support.


TWTR, daily

NFLX, daily

Summary

It is kinda odd, but everyone seems to have forgotten about NFLX since the severe reversal on earnings. It remains within a broader up channel..and there seems little reason why it won't be in the $400s next spring..along with AMZN.

Hey, at least NFLX makes a profit.
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As for the indexes, the price action sure doesn't suggest any downside power..and right now, a break below the recent 1779 low looks extremely unlikely.
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1.04pm.. clown TV proclaiming 'CRISIS OVER', with liesman and a red cheer leader.

Is that a sell signal ?
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1.07pm.. we have a possible - if not likely, floor on the hourly charts.

Underlying MACD (blue bar histogram) cycle is going to start ticking upward this afternoon..and be positive tomorrow. Upside for rest of the week.