3pm update - net weekly gains

With no afternoon reversal, US equity indexes are set for net weekly gains. The swing from the morning low of sp'2043 to the 2070s is a major threat to those holding short. Metals remain weak, Gold -$10, with Silver -2.5%, and that is impacting some of the miners. Oil is -3.6% in the $37s, and for now, the equity market just doesn't care.


sp'weekly1b

Nasdaq comp', daily

Summary

*the Nasdaq comp' is arguably even more a problem than the sp'500/Dow. A daily close in the 4900s will open the door to a test of the giant psy' level of 5K next week.

Any action in the 5000s, is white flag territory for the remaining big/serious bear money.

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notable weakness, airlines, UAL

UAL has put in a micro double top in the $61s.. and appears to finally be following Boeing (BA). First soft downside would be the $55/54s.
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...annoying end to the week... urghhhh !