11am update - bears getting the boot

With the break to new historic highs, what few bears are out there are getting hit on short-stops above sp'1963. Hourly MACD cycle is offering upside into the early afternoon, but there remains increasing probability of a break lower.. not that it is tradeable in my view.


sp'60min

Summary

So... new highs in the sp'500..and we're seemingly in melt mode...which looks likely to continue at least a few more hours.
-

I am aware a fair few are seeking the 1970/75 zone...and I can go with that.

What I don't agree with is the notion that the subsequent down wave is a tradeable one. Overly risky in my view.. with downside perhaps as little as 1%.

I ain't interested in that sort of down move.

Even worse for the equity bears... there is a sig' QE tomorrow of around $3bn. 
-

Notable strength: FB, +2.5%
 --

11.01am... and WFM turns green..