Closing Brief

US equities saw some moderate weakness into the close on yet another 'spooky' Greek news report, sp -7pts @ 2055 (intra high 2072). The two leaders - Trans/R2K, settled lower by -0.4% and 0.3% respectively. Near term outlook is broadly bullish.


sp'60min

Summary

*a somewhat weak closing hour, but overall, the net weekly gains are VERY powerful, and do not favour the bears next week.
--

Regardless of the weak close, the bull maniacs did manage a clear break of key resistance of sp'2064... along with another daily close above the 50dma.

Been an interesting..  somewhat profitable, and certainly.. entertaining week...........

Have a good weekend!
--

*the usual bits and pieces across the evening.. to wrap up the week!

3pm update - a powerful week for the bull maniacs

US equities look set for minor chop into the weekend. What is far more important though, the sp'500 is set for a net weekly gain of around 3%. Metals remain weak, Gold -$33, whilst Oil is holding gains of 1.8%.


sp'60min

Summary

So... a little chop this afternoon... but more than anything... a HUGE net weekly gain... and the Monday morning low of sp'1980 is now a full 4% lower.
-

Notable weakness, miners, the ETF of GDX -5.2% 

GDX, daily

-
back at the close... to wrap up the week... unless the ECB open their mouth before then!

2pm update - minor weakness

US equities have seen a minor down wave from sp'2072 to 2062. Hourly cycles are set for a bearish cross into the weekend, but it will do essentially nothing to what has been a hugely bullish week. Metals remain very weak, Gold -$32, with Silver -3.9%.


sp'60min

Summary

Yes.. some will be calling for a cycle peak.. and downside from here.. but the weekly candles argue strongly against it.

--
Notable strength: TWTR +16% in the $48s