sp'60min
Summary
As I noted last night, the setup was never very good for the bears. Despite the closing hour weakness, the smaller cycles already looked floored.
This mornings reversal candle..and that IS what it probably is, is the strongest hourly candle we've seen since the sp'1737 low.
There can be no excuse for those bears not exiting in the mid 1820s this morning. None!
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Notable movers...
TSLA, holding 7% gains..after earnings.
FB -2.5%, after spending 16bn on a web app..when it could have bought any number of multi-billion 'real companies' for a fraction.
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Q. Have you noticed the 'THEY KNOW NOTHING!' advert for Cramer on clown finance TV ?
What I'd like to see CNBC play is the clip where Cramer recommends people take out funds from the US market for five years...that was back in late 2008/early 2009.. Its on youtube somewhere..maybe I'll go find it....
found it !
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Enjoy!
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11.36am...minor chop..but market is holding moderate gains. A daily close in the 1840s would be pretty decisive, and setup next week.
*thanks to a poster who pointed out today was NOT 4-5bn QE, that was Tuesday. Today was still significant though, at $2-3bn.
Next week has 3 sig' QE-pomos..bears..beware!