sp'60min
WTIC, weekly2
Summary
*ECB: rates u/c... the QE continues.. as they strive for inflation.
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To break trend, equity bears only need a daily close <sp'2107.
The 2065/61 zone remains first target, and its notable that if 2061 is hit within a few days.. that'd be a swing of 50pts (2.4%) from yesterday's new cycle high.
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Update from Oscar
Clearly, commodities and stocks have seen some very strong gains recently. Yet many in the mainstream are still saying rates will remain low and QE - BoJ/ECB, will continue.
We can't have both. If the supply of commodities - relative to demand, really has changed.. we have a major inflationary bubble that could get out of control real fast.
My outlook still leans on the deflationary side, but if WTIC oil >$50... along with new historic highs in stocks... watch out!
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Overnight action
Japan: solid gains of 2.7% @ 17363
China: weakness into the close, -0.7% @ 2952
Germany: currently -0.5% @ 10366
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Have a good Thursday