Good morning. Futures are slightly higher, sp +3pts, we're set to open at 1808 - a mere 5pts from breaking a new high. Metals are still battling to bounce, Gold +$3, Silver +0.75%. Equity bears face heavy QE today, and will likely struggle to hold the market flat.
Certainly, the ramp on Friday could just be a wave B' bounce..as part of a bigger ABC.
However, the QE continues. The mainstream remain wrapped in the delusion that 'everything is going to be fine', and besides..the primary trend is to the upside anyway.
On balance, we'll probably battle higher this week..to new highs. With little news due this week, and two heavy days of QE..bears face a real tough challenge.
I just don't think the bears can do it. End week target is somewhere in the 1825/35 zone.
Video update from Mr C.
Good luck everyone..for the week ahead.