1pm update - intraday floor of 1832

Mr Market is attempting to put in a floor at sp'1832, with a moderately higher daily close still viable. Considering the earlier weakness, equity bulls should be content with any daily close in the 1840s, which still keeps open the door to the target zone of 1860/80.


sp'60min

Summary

I should probably revert to just following the daily charts for a few days...

Regardless of this afternoon, it really does come down to 'not remotely interested, baring <1815'.
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UAL continues to remain bullish, and is within $1 of breaking the 2007 double top high.

As noted many weeks ago, things get real interesting if >$50, although that does not seem viable in the very near term..not least if the main market turns lower after a spike high at next weeks FOMC.


1.44pm.. a clear 11pts above the morning low..and bears look in trouble. With 2 QEs in the rest of this week...want to be short here?

Just go stare at weekly'8 chart...that should clarify things.