Equity indexes are still net higher on the day, especially the two leaders - Trans/R2K. As things are, the sp'500 is set to close March with net gains of around 0.7%. Metals are weak, Gold -$9, and set for a major monthly bearish reversal. VIX is weak..so far unable to hold the 14s.
...here is the closing hour of Q1 trading!
*I will probably do a limited monthly chart summary later this evening, although there is a lot to cover for this month, not least in commodity land.
Overall, most indexes look set to close higher, the notable exception is the R2K. The old leader - Trans, has monthly gains of around 3%.
3.13pm.. I am just going over some of the monthly charts for this evenings posts, some pretty interesting moves to cover..not least Copper, and Oil.
*new QE-pomo schedule is out.. next sig' QE is not until Wednesday, and even then, its just $2-2.5bn.
The QE prop IS being taken away...
3.25pm.. By end Tuesday, bears need to be in the low 1860s..to have any hope.
It remains a 4 week period of chop...but near term momentum is with the bulls..but I'm sure not going long at these levels.
If I get the boot at 1884/85...so be it.
3.40pm.. sp'1874....a close >1875...would be especially bullish for tomorrow.
Certainly, this was just another month for the equity bulls...month'30.. since grand wave from Oct'2011, when sp' was a mere 1074.
Indeed...800pts...in 30 months.
3.48pm.. a daily close >1875...looks just out of range...but nothing for the bears to get overly excited about.
Well, thats it for another quarter..back at the close...with some end month updates..across the evening..especially on the precious metals..and miners.