The main indexes are poised to break new highs, helped along with another truck load ($3-4bn) of benny bux. Metals are holding slight gains, Gold $6, but remain within very bearish broader down trends. Tech remains strong, with AAPL +$9 @ 569, year end target remains 580/600.
No doubt many of the bears are getting real annoyed as the afternoon proceeds. Some will still be clinging to hopes of a C wave, but really, it sure doesn't look likely.
Meanwhile...one of my current longs..RIG
RIG has had a tough time putting in a floor, but we have a possible spike-low being formed..much like Nov'1. The next 3-7 trading days will be important for RIG, I want to see at least 52/53 before considering an initial exit, and even then, I'm still seeking much higher levels by end spring.
Another version of something I like..with a rather apt title.
2.28pm... micro down wave..1807. Baring a move <1800..this is all minor noise though. Meanwhile, the hourly MACD cycle is at least 40% reset..in prep. for the next up wave.
I just can't see how we are going to fall across the next few days..where is no real econ-news due until early Thursday..at which point where is another large QE.
TWTR still gaining.. +9.7% ..the lunacy.