US equities are holding moderate gains, and the sp' looks set for an important weekly close in the 1870s, keeping the bullish up trend intact. Metals are seeing a touch of weakness, Gold -$2, with net weekly declines for both Gold and Silver.
...it has been a bit of a battle this week....I'll be glad for the weekend :)
*I will hold long across the weekend, via CHK, DO, SDRL, and STX.
...probably floored..finally, but I was overly early again. I annoy myself more than this market ever could.
3.08pm. Hourly MACD set to go + cycle this hour...so...rather than churn..we could even see a close in the 1880s..which would be a bonus for the bull maniacs.
3.15pm.. something to look at...daily MACD cycles for the R2K/Nasdaq..they look floored..and are offering a good 2-3 weeks of upside..and that will get us to sp'1920s by late May/early June.
As much as it sounds bizarre coming from me..I'm glad I'm long, I think I'm on the right side of this nonsense..at least for a while.
3.23pm.. So..as it is...there is viable upside to the 1890s early Monday....the fact there is sig' QE of around $3bn should spook those holding short across the weekend.
Only issue seems to be...a VIX weekly close in the 13s...or 12s.
3.42pm.. another set of short-stops hit...and we're sp'1877...and rising.
For the equity bears out there..this is no doubt starting to really get annoying.