sp'60min
Summary
Underlying MACD cycle is on the low side, so there is threat the opening gains will be built upon, especially if the market can tolerate the EIA report (10.30am).
Regardless of today though, the bigger issue will be the ECB tomorrow. If the EU markets are at least moderately pleased, we'll be testing the 200dma in the sp'2020s... and if that occurs by next Tuesday, it won't take much for a brief gap fill of 2038/43 on FOMC day itself.
From there though... we should max out.... and weaken into end month.
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I continue to have particular focus on Gold/miners
GLD, daily2
I'd sure like to see a 38% retrace complete by next Wednesday afternoon, which would help to signal equities have maxed out.
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Update from a particularly loud Mr C.
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Overnight action
Japan: -0.8% in the 16600s
China: -1.3% @ 2862
Germany: currently +1.3% @ 9817, 10K stands as huge resistance.
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Have a good Wednesday