sp'weekly8
GDX, daily
Summary
*GDX breaks the 200day MA, first time since Jan'2013, a pretty major break through. How metals/miners close the month will now be paramount.
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So...the market has coped with Yellen..but there is also the US Senate this Thursday morning.
The weekly 'rainbow' charts are really turning in favour of the equity bulls, and we're seeing the sp'500 flip to a green candle, confirming last weeks blue..as a turn.
Best guess..a key inter'3 top..late March/April...monthly charts will be offering the low 1900s next month..which is a disturbing thought.
The 'big short'....target will be 1900s...down to 1625/1575....some time in the Aug-Oct' time frame.
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Anyway...back to the near term action...
1.03pm...and Yellen is still at it, but I'm sure they wrap up any minute..for 30mins, and then a tranche of other Fed officials will appear.
1.16pm... a fierce market....sp'1818...a mere 32pts from breaking a new historic high....incredible!
Notable strength in IRBT, +16%...upside target is the $50 psy' level.
1.36pm bulls battling for dow 16000, not that its 'necessary' today.