US indexes are holding moderate gains, with the sp' continuing to flirt with the sp'1850 threshold. This increasingly tight trading range is going to break sooner or later. The bigger weekly/monthly charts continue to suggest it will be to the upside.
Look at the upper/lower bollinger bands on the hourly cycle...now at 1841/53..a mere 12pts.. that is a range of just 0.6%.
Price action continues to favour the bulls. The bears are simply NOT showing any downside power.
*we do have a broad array of econ-data tomorrow, although there is no sig' QE to help the bull maniacs.
Notable movers: Arch Coal (ACI) +5.5%, indeed, the rest of the coal miners are all significantly higher, with prime miner, BTU +2.4%
1.30pm..the underlying upside pressure again starting to show...sp'1852.
Any daily close in the 1850s should open the door wide open to 1880/90 by end of next week..which might make for a sub'3 peak...
regardless..we ain't headed lower.
1.37pm... VIX slips into the 13s.... with sp'1853.
Bears getting ground into dust..with the 1860s not far away now!
Daily charts are offering 1880 in the IMMEDIATE term..and that looks set to climb to 1900s in early March.