11am update - clawing upward

Equities appear in melt mode.. with a break into the sp'2030s. Next resistance is the 50dma of 2046. A break above that tomorrow will offer a weekly close in the 2070s. Metals have seen a strong swing lower, from +$10.. to -$5. Oil is holding bounce gains of 2.6%


sp'daily5

 

GLD, daily

Summary

*bearish engulfing candle for Gold...a turn lower.. post ECB?  Probably.
--

Suffice to say... overall choppy...

With the daily MACD (blue bar histogram) set to go positive cycle tomorrow... equity bears have a lot to be concerned about.

Naturally... a fail to keep pushing higher.. and then its a trip to sp'1960s.. where the 200dma is lurking.

Best guess... UP, but then.. that remains the default trend.. right?