2pm update - afternoon chop

The market is seeing continued minor chop into the weekend, with the sp' in danger of losing the 1830s, not that it is a 'mission critical' level. A drop to 1815/10 early next week is viable, before a renewed strong push higher. Metals are holding gains, Gold, +$12, whilst Oil is weak, -1.7%


sp'60min

Summary

*I've added a fib retrace to the hourly.

How about a target of 1820/18 for the floor, early Monday?
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As noted earlier, it is a bit of a mess, but overall outlook looks reasonably solid, with a move into the 1850/60s by mid month.
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Arguably, stock of the day, UAL, now +5.1%.

Making a play for the big $40 threshold...which opens up the  2007 high of $48 by the spring.


2.04pm.. UAL about to break $40 for the first time since Feb'2008.