sp'60min
sp'weekly8
Summary
A short week, but I'm kinda tired...just one hour to go!
Sp'1835...hmm....surely we won't close in the 1840s?
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3.07pm.. UAL breaks $40 for the first time since Feb' 2008. Next target is $48..a clear 20% higher.
happy flying!
3.14pm sp'1836..a close in the 1840s would be something of a surprise, but then..underlying pressure remains up...and is exactly why I won't be meddling on the short-side until the spring.
Notable strength: UAL +6.0%, so far..hitting $40.05.
3.25pm.. VIX -4.5%...showing a fearless market..doesn't bode well for the bears holding short across the weekend.
3.41pm.. underlying MACD cycle is set to go positive in 1-2 trading hours..and frankly, I'd not be surprised if we open Monday in the 1850s.
Certainly, it looks a seriously risky situation for anyone to hold short across the weekend, with downside, at best..maybe 1812/10..if not only 1820/18.
3.56pm...chop chop..as expected........ back at the close.