11am update - burnt bears

US equities are holding significant gains for the third consecutive day. There are multiple aspects of resistance in the sp'1920s, and increasingly so in the 1945/55 zone. Metals are holding bounce gains, Gold +$10, with Silver +0.7%. Oil is unquestionably helping equities, currently +4.2% in the $30s.


sp'60min

sp'weekly6

Summary

*hourly RSI has not been this high since last September. Pretty extreme!
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Note the weekly MACD (green bar histogram) cycle, which will probably tick higher for another 3-4 weeks.

By mid March it'll be threatening a bullish cross... but I am guessing we'll then see a critical fail.

If I'm right... then it unravels rather severely.... way below 1810... at least to 1750/25... and probably the low 1600s .

If I'm wrong... then none of the price action since May'2015 will make any sense.

Not long to wait!

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Here in London city...

Its one of those days when you realise its still February.. and it can get pretty dark by 11am EST.   Urgh

time to cook!