3pm update - climbing into the close

The main equity indexes look set to climb into the close. There is a very reasonable chance we'll close the day net positive. Momo stocks remain very strong, and are a reminder of the underlying lunacy in US capital markets. Metals remain stuck under old broken support.


sp'60min

Summary

I'd guess that is a very clear bull flag on the hourly charts.

We have a MACD cycle that is probably floored, and the 15min cycle is screaming 'we're  going up'.

As based on recent price action, I'll be damn surprised if we don't rally into the close.
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3.26pm... hmm, well, we're battling hard for a positive close. I wonder how many day trading bears will need to close out..which might be enough to kick the indexes green.

A gap higher at the Wed' open..very viable...but 1820s more likely Thursday..when we have another few hundred wheel barrows of benny bux.


3.47pm.. minor chop...underlying pressure remains to the upside though.

So..two days of the week gone..and bears are so far unable to break <sp'1800. It does not bode well for rest of the week, does it?