sp'60min
Summary
*awaiting jobless and Durable Goods Orders
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So, with AAPL +8% in the $560s, the Nasdaq is leading the way for the broader market.
Mainstream consensus is likely going to swing strongly bullish today...and Mr Market has a real chance to close the week in the 1890s..which sets up the low 1900s next week.
As for me, I'm short SLV, LONG FCX, RIG..and so far...this morning is looking good.
Good wishes for Thursday trading :)
8.55am.. sp +13pts, ..1888. Just 9pts below the key high.
Considering the hourly index cycles...the underlying momentum does offer a challenge of 1897 this afternoon.
No doubt, some will call for a double top there, but I'd just say anyone go stare at a weekly chart for 10 minutes.
9.20am.. sp +10pts... we're set to open at 1885.
Metals recovering a fair bit of the overnight declines.. hmm
9.35am.. EXITED ... long FCX, 34.35... very happy with that one.
9.37am.. a lot of black candles all over the place.... Bulls..should be cautious!
9.40am... BLACK-fail candles...EVERYWHERE. This is kinda interesting open.
Bulls...beware!
9.43am.. R2K is RED....... I've not seen so many black-candles in a very long time.
Clear reversals on just about everything...even AAPL is cooling..a bit.
9.49am.. a full opening reversal...and those black candles sure did warn of trouble!