sp'60min
Summary
An interesting day, moderate chance of a close in the sp'1870s, but clearly..not the big down day that some were hoping for.
Two big supports are obviously..1850..and stronger still...1834.
With sig' QE-pomo tomorrow, and considering the MACD (blue bar histogram) cycle...bears face bigger problems tomorrow.
Notable weakness: DRYS, -3.2%..and the recent failure to hold the 50day MA - as I feared, was a reason to leave it alone (although I still like idea of picking up in the summer..possibly in the $2s)
updates into the close...
3.27pm... chop chop...there really isn't much to add.
VIX remains a touch red, and the indexes are just seeing minor weakness.
Bulls should seek a close >1865...the hourly 10MA.
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back at the close