1pm update - remaining bullish

US equity indexes are holding moderate gains, with the sp' having broken a fractional new historic high of 2120.92. Metals remain very weak (especially when considering the weaker USD)... Gold -$17, with Silver -1.2%. Oil is still moderately weak, -0.8%, but already showing signs that a floor is in.


sp'weekly7

GLD, weekly3

Summary

We have an outright bullish green candle on the weekly 'rainbow' chart for the sp'500.... the upper weekly bollinger will be offering the 2140s in early May.
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As for Gold/Silver, both have a classic large H/S formation. If correct, Gold is set for the giant $1000 threshold this summer.. and that has rather dire implications for the mining stocks.

notable strength: BABA +2.7%..  looks set for the mid $90s by mid May.
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*I remain long Oil... will consider an exit into the weekend if USO $19.90s.. or higher. In any case, WTIC Oil is headed for $60.. if not $67/75.