US equities have seen an initial turn from the natural turn time of 11am, with the sp' swinging from 1979 to 1993. The hourly 10MA @ 1994 will be difficult to close above today, but if the market can tolerate the next pair of Oil inventory reports, then renewed upside >2K looks due.
Little to add.
Another push higher looks due.. at least to the sp'2020s.
Current price structure could be argued is a multi-day bull flag... and cyclically, we're on the low end.
notable weakness.. GLD, daily
Relatively, Gold is still holding up well, it looks vulnerable with the next ECB/FOMC.. if briefly.
back at 2pm