3pm update - minor upside into the close

Considering the smaller 15/60min index cycles, the market is set for minor upside, with a daily close of 1795/1800. Metals remain weak, Gold -$24. Oil has lost some of the gains, now +0.7%. Equity bulls look on track to make an attempt to clear the 50 day MA -1812, tomorrow/Monday.


sp'daily5

Summary

The above chart is probably more than enough right now.

We have one clear bounce day, and more than likely, we'll see some follow through tomorrow.
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I realise some out there are now touting new yearly highs..in the upper 1800s. Hell, even I'm open to the low 1900s.

As ever..its all about key support/resistance, the MAs, and QE..of which we have $5bn to endure tomorrow. Bears beware!
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*AMZN earnings at the close. Did they make any $ this past Christmas?
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3.14pm... we have a clear baby bull flag on the hourly index charts...bodes for upside into tomorrow.

*AMZN and GOOG earnings at the close..so..stay tuned!