After being postponed, here comes the Fed chair..the Yellen, set to address the US Senate..and this could last for much of the day. Meanwhile, US indexes are seeing continued minor chop. Metals are picking up gains, Gold +$2
*I highlight the daily chart...notice the bollinger bands..they are now catching up to the recent rally.
Upper bol' has now broken upward to 1879...and we could be in the 1880s by end of next week. Meanwhile..we have lower support now in the 1740s - which is also where the weekly cycles offer initial support.
Well..I'm going to have an early lunch...and its time to see what the worlds CEO of print central has to say...
For those who want to watch uninterrupted coverage...
9.55am...market still flirting with 1840..but like yesterday..the smaller 5/15min cycles do NOT favour the bears. There just isn't much downside power.
10.05am.. major threat of ramp.....with 1840 holding.
see C-span'3..for LIVE coverage!
10.23am.. well, we're 10mins into the Yellen chatter..and market still holding 1840.
Barring Russian bombers over Kiev this evening, we'll surely battle higher from here.
10.27am...micro 5/15min cycles..turning up.....bears on the run now.
A daily close in the 1860s is viable...ALL index cycles are setup for upside.