US equities look set to hold moderate gains into the close, with Mr Market comfortably above the Monday spike floor of sp'1850. A weekly close in the 1885/95 zone looks very probable, barring any especially weak econ-data - but as ever, market 'interpretation' of such data is even more important.
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.
Aside from that, there really isn't much to add.
We do have earnings at the close, EBAY, TWTR, and STX.
*I will hold heavy long overnight, via CHK, DO, RIG, SDRL, and STX
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!'.