A pretty strong opening move upward, lead by AAPL. We're now back to levels from last Wednesday morning.The FOMC press release is 12.30pm EST, with the Bernanke speaking at 2.30pm (EST). How the market closes today will be even more important than how it opened.
Sp'60min
Vix'60min
Will today be a reversal day? So far, there is absolutely no sign of that, but we've a long day ahead.
The Bears with the most lose stops - from last week, would be set to get the kick around 1392/95. So, there is a serious threat of a reverse stop-cascade, which could break us back above 1400.
Clearly, a close of sp'1400 would be a real disaster to every bearish case out there. Right now, a close in the low 1370s looks a distant dream. The Bernanke is probably still having breakfast right now.....will he come to the rescue of the bears this afternoon?
More later.
Sp'60min
Vix'60min
Will today be a reversal day? So far, there is absolutely no sign of that, but we've a long day ahead.
The Bears with the most lose stops - from last week, would be set to get the kick around 1392/95. So, there is a serious threat of a reverse stop-cascade, which could break us back above 1400.
Clearly, a close of sp'1400 would be a real disaster to every bearish case out there. Right now, a close in the low 1370s looks a distant dream. The Bernanke is probably still having breakfast right now.....will he come to the rescue of the bears this afternoon?
More later.
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