1pm update - the 1890s look due

Some minor chop (not least in the R2K), but most indexes are comfortably holding moderate gains. The sp'1890s look likely tomorrow, and a somewhat bigger can of QE fuel ($2-3bn) will no doubt help. Metals are holding minor gains, Gold +$2, but daily candles are warning of trouble.


sp'daily5

GLD, daily

Summary

*black-fail candles on GLD and SLV, does not bode well for tomorrow.
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The sp'1894/96 zone will be my target for tomorrow. I suppose a Tuesday daily close in the 1900s is just about viable, which would be very bullish for the rest of the week.

Weekly charts will be offering as high as sp'1910 by the Friday close.
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So..3 hrs left of today....I'm expecting more minor chop..but even moderate gains will help to set up tomorrow for a breakout on the Nasdaq..and perhaps the R2K.

Taken together...it looks reasonably okay for those on the long side.