3pm update - a fourth week for the bull maniacs

Equities look set for continued minor weak chop into the weekly close. Regardless of the exact close, with new historic highs set this week for the Dow, Trans, and sp'500, the bulls remain in full control. A reversal in the USD continues to help inspire commodities.


sp'weekly

Summary

Little reason to expect much price action into the weekly close...

Smaller 5/15/60min cycles are mixed, I suppose it could be argued for a touch of weakness into the close.. but in the scheme of things... it is barely worth speculating about.

With the metals holding strong gains, the miner ETF of GDX is +5.5%... having opened -2%. no doubt there will be a lot of chatter about this powerful reversal on the usual gold bug sites this weekend.

After all... metals have floored... right?   Yeah.. sure they have.
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3.32pm.. Tedious... VIX -1%.. with sp'2039.....

back at the close