3pm update - another day, another high

The main indexes are holding comfortably in new territory, with the sp' making a play for a daily close in the 1760s..which would be extremely impressive. Bears are utterly powerless, with mainstream consensus now realising QE-taper won't happen until at least spring 2014.


sp'60min

Summary

*precious metals holding gains, whilst Oil is very weak, having broken support a few days ago.
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Whether we close in the sp'1750/60s..entirely irrelevant. What does matter...primary trend remains to the upside, and those sp'1800s are viable in November.

What I find surprising is just how overly cautious even the cheer leaders are on clown finance TV about the current rally.

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NFLX remains a fascinating one to watch. Big opening reversal...net losses, and now we'll see how many bull chasers want to come in again in the low 300s.

A closing hour ramp for NFLX looks very viable. All the big selling has already been done.