10am update - where we're going...

US equities open with minor mixed chop, sp -2pts @ 1948. There remains notable strength in Gold and Oil, higher by $8, and 0.3% respectively. VIX is making a play for the 'glorious 12s'....but even the mid teens look well out of range.


sp'weekly, 1998

Summary

...we don't need charts.


*stockcharts is currently offline..so....err...I'll post some other things.

I've always had an interest in the 1998 collapse wave..it was strong..but brief. In many ways..somewhat like summer/autumn 2011.

I still have the vain hope we'll see something like it later this year, but clearly, for now...we're still pushing broadly upward.
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Meanwhile, WFM is higher by around 1%

9.55am.. I am LONG WFM from 41.60s... seeking an exit in the 42/43s..within a few days.
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10.13am.. sp'1945...just a few pts away from multiple aspects of support.

QE will be kicking in ...soon.   Would not surprise me to see a brief foray into the 1960s today..or tomorrow...with perhaps..a little weakness/chop later in the week.