sp'60min
Summary
It is somewhat amusing how many are getting overly excited at these sporadic little down waves of 3, 5, 10pts... or even a little more.
Really, anyone getting overly bearish right now, should just go look at the Nasdaq monthly..or the R2K I've been highlighting today.
I suppose some would then counter with 'what about the Dow'?
My response... 'the Dow is +500pts this month..whats bearish about that?'
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3.13pm.. sp'1842/41.. from a pure cyclical perspective..this is not good for the bears.
...then there is Yellen..and a large chunk of QE.
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price action suggest we hold 1840... however if fail..then 1830/25...although I realise that sounds like I'm covering all the bases, ..which in this case..is true.
Bring on the days of 20/30pt hourly swings....not this 3,5pt nonsense.
3.31pm.. market making a play to ramp into the close. Major threat to those bears hoping for a break <1840. 1850s..still viable!
3.41pm..seeking a close 1846/48. 50s look just a touch out of range.
Regardless..bears face huge problems tomorrow, and ALL index cycles favour the bulls for the remainder of the week.
3.45pm.. hourly index cycle will be offering 1860/65 tomorrow...so long as Yellen doesn't say anything...stupid.