sp'60min
Summary
*as I type, the big city is almost night at 1pm, we have floods, and lightning bolts are raining down, a crazy winters day!
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So..we're set to open a little higher. Frankly, the bull maniacs should be content with any weekly close above 1835.
As it is anyway, I've little doubt we'll see the 1850/60s within the next week or two. For me, the only issue is whether we see 1870/80s, before things really do get overbought by mid/late January.
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*be mindful of the Fed officials speaking today, comments could easily be used as an excuse to ramp on the recognition that QE is not going to fully end for some considerable time.
Early strength: TWTR + 1.6%, DRYS, +1.5%
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9.33am.. and we're off and running! Would get interesting if we can break back into the 1840s by the early afternoon. Certainly, the underlying pressure will be up into next week.
DRYS +2%,, VIX -1%..set for a weekly close in the 13s.