sp'60min
Nasdaq, daily
Summary
Well, it has been a day where the equity bears failed to show up.
Daily/weekly cycles are all supportive of the bulls, even for those scenarios calling for a H/S formation on the R2K/Nasdaq.
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Aside from that, there really isn't much to add.
We do have earnings at the close, EBAY, TWTR, and STX.
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*I will hold heavy long overnight, via CHK, DO, RIG, SDRL, and STX
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3.18pm... There is some very significant buying in TWTR and STX ahead of earnings. Both stocks have been somewhat battered lately, so some of the gains are part of a natural recovery bounce.
Certainly, earnings at the close are worth watching.
STX is in the 53s, I would like an exit in the 56/57s but that is probably a very hopeful outlook. 55s would be far more reasonable.
TWTR is a real wild card, and I'd not be surprised to see the big $50 threshold test in AH as the equity bears cover at 'ANY PRICE!'.