Good morning. Futures are moderately higher, sp +6pts, we're set to open at 1961. A daily/weekly close above the 50 day MA of 1955 would clarify that new historic highs are very likely in most indexes.
So, we're set to be trading in the 1960s at the open, and a slow grind to 1970 seems very viable today.
Notable strength: R2K, +0.7%. Upper bol' on the daily offers the low 1160s, which would make for a daily gain of 1.5%.... suggestive the broader market will claw to sp'1970, with Dow 16800s.
*as things are, I'm tired.. its been a long week, and I might get intentionally stopped out at the open.
Update from Mr C.
Not surprisingly, Oscar is bullish, and expecting new yearly highs.
Good wishes for Friday trading.
9.00am Futures holding moderate gains, sp +6pts... 1962
I've a tight stop in place, will likely get the boot at the open....
From there...I'm done for the week.
9.35am.. EXITED sp' LONG.. from 1962.
..and my week is complete.
I will stick around here though.
9.37am.. VIX slips into the 11s..
Notable weakness in the metals, Gold -$17, with Silver -1.5%
..most notable aspect of the week - at least to me........
Weekly 'rainbow' candle turns GREEN.... indexes back to outright bullish.
9.44am... smaller cycles are highly vulnerable to a down cycle... although underlying pressure remains UP - not least reflected in the weekly cycle