3pm update - bulls pushing for the 1790s again

Market has put in a moderately higher low of sp'1777, and now the bulls are making a renewed push for a daily close in the 1790s..not that it is exactly 'vital'. Metals remain weak, with Gold -$10. VIX has turned a touch red, a close in the 15s look likely..ending the recent 5 day run.


sp'60min

VIX'daily3

Summary

*equity bears should be mindful of a daily VIX chart that is looking a little spiky..and a red close would be a provisional warning of trouble tomorrow.
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I'm not expecting any dramatic jump in the closing hour. Indeed, bulls should merely aim to hold the 1777 low..if not the rising trend/channel..which at the close will be around 1780/78


3.14pm... bulls pushing...1783/84...  the equity bears out there got to be concerned with the Fed tomorrow. If market likes what it hears...then this market will jump into the 1800s..and might not look back until late Jan/Feb.

Notable strength in NFLX +3%


3.47pm.. closing hour chop, but it looks like bull maniacs will hold the 1780s..and after the recent weakness..thats pretty impressive.

With VERY heavy QE across Thurs/Friday...bears face severe problems for remainder of the week.