sp'60min
Summary
So...a few more points higher...and we're now getting damn close to breaking new highs.
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Equity bears have little hope until at least tomorrow's FOMC minutes (2pm). A more viable 'downside break' appears possible with Yellen on Friday morning.
Problem is of course... the next down wave might be starting from 2000... rather than 1980.
Right now...1950/45 zone seems the very best downside case... post Yellen...early next week.
On ANY basis..this is no market to be shorting.
*I am content on the sidelines...and would only consider a long in the 1960/50 zone... but that seems unlikely until next week...if at all.
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Notable strength: coal miners, BTU +3.0%
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3.26pm... it remains tedious. Micro cycles offer 1980/78... but..its all noise...and nothing for the bears to get interested in.
back at the close....