sp'60min
sp'daily5
Summary
Well, another week begins, a week which will largely revolve around what Yellen has to say to the US house/senate - this coming Tuesday and Thursday morning. I'm guessing she will be able to refrain from saying anything 'stupid' that might upset the capital markets.
A little talk of 'the Fed will do everything necessary' should be enough for the bulls to attain a weekly close in the low 1800s. A close >1810 - where the 50 day MA lurks, would be decisive.
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As many recognise, sp'1770 is the level equity bulls need to hold in any initial pull back. It will be important for anyone not to get lost in bearish hysteria early this week, if we do slip 20/25pts or so.
One thing to look for at the open, the weekly lower bollinger, should jump into the 1700s, and along with the rising 200 day MA (probably 1712 at the open), equity bears probably won't see the 1600s until the summer (if at all).
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*there is sig' QE today, so..bulls should have the edge as the day proceeds.
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Interview with 'Aftershock' author, Wiedemer
It is a somewhat interesting chat, for those who want something to listen to over breakfast.
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9.08am Really quite dull to start the week, sp now flat, and a brief break into the 1800s looks viable before the first chance of a pull back.
Notable movers: TSLA +2%, UGAZ -5%, GDX +1.5%...on the back of higher gold prices.