3pm update - bears being ground to dust

US equities are seeing some notable renewed upside, as Mr Market is no doubt intent on grinding the equity bears OUT.. ahead of next Thursday's FOMC. Primary upside is the sp'2000/2010 zone... but there is almost equally high probability of the 2050/70 zone before things unravel.


sp'daily5

sp'weekly2

Summary

*note the blue candle. A back test of the broken trend would offer 2050 or so next week.
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Suffice to note.. eyes on the daily/weekly cycles, both of which are clarifying short term upside into the latter half of next week.
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*I will be on the sidelines overnight.. as my target on DIS not hit, and I am not in the mood to chase it higher.

I am considering a long Oil (via USO) trade, but not until tomorrow morning. Price structure is bullish into next week, at least to the $50 threshold.
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back at the close