10am update - sleepy start to the week

The US indexes open somewhat muted, holding the mid sp'1790s. The precious metals are offering some initial strength, Gold +$7, with Silver +1.0%. With sig' QE of around $2-3bn, equity bears face the usual problems.


sp'60min

sp'weekly8

Summary

*I want to highlight the weekly, since we have the lower weekly bollinger, which has now jumped to 1706. Any hopes of sub 1700 should be dropped.
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There remains moderate chance of a pull back to the 1775/70 zone tomorrow. Mainstream would doubtless attribute part of the reason to whatever Yellen says tomorrow.
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It increasingly looks like we'll rally into the next FOMC of March'19, at which point we look set for taper'3, although with the past two jobs numbers being lousy, its a bit uncertain.

Does the Fed really 'want out', or are they just playing more games?  Cool the bubble a little in mid 2014..before spooling the printers up to 'nuclear meltdown' level.
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Notable strength: TSLA, +4.3% (earnings are due next week, I believe)