11am update - up up up

The current multi-day ramp from the sp'1737 low continues, and we're now 110pts higher across 10 trading days. Metals are flat, whilst Oil is moderately higher by 0.2%. Nat' gas continues to hold gains of around 3%. VIX opened higher, but looks vulnerable to a red close.


sp'daily5

Summary

*at the current rate of increase, we'll hit sp'3000 by mid summer, ;)
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So..we're putting in higher highs..and higher lows on the smaller 15/60min cycles, which should scare the hell out of those bears still looking for a break <1737 in the 'near term'.
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Daily/weekly charts are offering the 1865/75 zone in the immediate time frame, with 1880/1920 in March.

If Mr Market likes the fed minutes later (2pm)..then we'll probably close in the 1850s, which would probably sway the mainstream into buying the market higher into the 1900s  by next FOMC.
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Notable mover..UGAZ

Since its a 3x lev' instrument, charting it is arguably...stupid. However, what is clear, underlying MACD cycle is due to go positive tomorrow..and we should see higher levels.


11.32am... minor chop...ahead of the Fed press release.

Notable strength in the coal miners, most are 3-4% higher.