sp'60min
Summary
So, we're set to open higher for a fourth consecutive day, and the sp'1940s are very viable today.
Bears continue to get ground out of this market.. as the bigger weekly cycles are burning off the oversold condition.
On any fair outlook, the bulk of the gains have already occurred. Its arguably just a case of waiting for a key rollover by mid March.
--
Update from a bellowing Oscar
No doubt the Elliot wave people will be especially annoyed with him today.
-
Overnight action
Japan: +2.3% @ 16196
China: -0.2% @ 2862
Germany: +1.6% @ 9523
--
Have a good Thursday
8.38am.. Phil fed -2.8... another lousy number for the macro-bulls.
Market doesn't care though... sp +5pts 1931.
notable weakness, GDX -1.5%