3pm update - powerful net weekly gains

US equities (and many key commodities) are set for powerful net weekly gains, with the sp +3.1%. VIX continues to reflect a market that is battling to resume 'normal service' as the Fed maintain zero rates, and will clearly be ready to threaten or launch QE4 if the market is unable to break through the sp'2050/60s before year end.


sp'weekly7

Summary

Little to add.

We're closing the week with a little chop... which is likely mere consolidation before further upside next week.

I realise some are calling a top for today around the prev' high of 2020.. but really.. no. The weekly charts are highly suggestive of further upside next week.

notable weakness, AA, -6.4%.. as selling continues after lousy earnings

strength: AAPL +2.3%

--
back at the close