Good morning. Futures are a touch higher, sp +2pts , we're set to open around 1804. Metals are weak, Gold -$6, and remain stuck under old broken support. With the hourly charts looking floored, equity bears continue to have real problems, and the sp'1820s are viable before the weekend.
I'm not really expecting anything of note today, other than a general opportunity for the market to battle moderately upward. There is more chance of new highs tomorrow, when there is heavy QE-pomo.
I realise some are still seeking a C wave lower, but really, where is the downside power? Bears look weak.
Notable early gains in all the momo stocks...
FB +35 cents..with 52/53 viable by the weekend.
Similarly, I'm looking for TSLA to battle into the 150s before the Friday close.
Video update from Mr Carboni...
..who is surprisingly bearish, at least for a day or two.
9.44am.. a few pts lower to sp1800..but really, where is the downside power going to come from today?
9.50am.. hmm, a snap lower..1797.