sp'weekly8
Summary
So...the Wednesday declines have been negated, and we're within range of a daily, and more importantly..weekly close in the 1850s. Indeed, weekly charts are offering the 1870s in the immediate term, and that should expand to 1880/90s in early March.
Just look at how powerful the Nasdaq Comp' looks on the monthly cycle...
Nothing bearish there, is there?
Looking ahead
We have some housing data to conclude the week. Perhaps more importantly, there are two fed officials on the loose - Fisher and Bullard, and Mr Market will likely be waiting to hear what they have to say.
*next Sig'QE is not until next Monday, and bears should be concerned that next week has 3 sig' QE-pomo days.
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Goodnight from London