The smaller 5/15/60min index cycles are offering opportunity for a little jump higher into the close. Regardless though, equity indexes look set to close the week with net gains of around 1.5%. Equity bulls remain in full control. Momo stocks remain weak/cooling down.
Without getting overly focused on the smaller cycles, there is reasonable chance of closing the week on a high.
*notable strength in the coal miners: BTU, ANR, JRCC
updates into the close
3.07pm.. TWTR -9.3%.. the momo chasers getting nailed into the close...such a shame,
As ever, look for the VIX to get whacked lower in the closing minutes..happens more often than not.
3.18pm. TWTR -10.3% @ $65.75...there should be support in the 62/60 zone next Monday morning, before the madness starts climbing again.
3.43pm.. TWTR -12.0%....rats really getting the kick now!
Main market looks fine though, Dow/Sp' both set to close fractionally higher.