Regardless of the exact close, it has been a powerful week for US equities, with most indexes set for net weekly gains of around 3%. With the USD +0.6% in the DXY 99.50s, the metals are under pressure, Gold -$5, with Silver -1.0%. Oil has seen a sharp swing lower... -0.2%
*re: oil... those gains of 2.0% sure didn't last long, set for a net weekly decline of around -1.0%
Short term.. its a mixed picture in equity land, price structure remains a clear baby bull flag.. but the hourly MACD cycle is turning negative.
Broadly though... new historic highs are on their way before year end.
.. the entire series will be available at midnight. I'm not sure whether I can manage 13 hours of TV this weekend, I'll give it a damn good try though.
Meanwhile... CMG is having problems with E-coli.
A pretty fierce afternoon collapse wave of 9%... trying to find support, but on the broader daily chart.. next support is not until the gap zone of $475/450.... which is clear 10% lower.
back at the close