sp'60min
Summary
*futures: clown finance TV is not surprisingly wrong with their futures 'guess'.
Due to the ramp in the closing minute - and immediately after the Tuesday close, the 'settle' close is a bit confusing.
As ever, I rely on the SPY, DIA, and IWM ETFs to form an estimate on where we will open.
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So..what about today?
Well, there is no QE-pomo of significance, so the bears need not worry about that. Yet, we have the underlying MACD hourly cycle offering a good 4-6 hours of upside today, possibly even the rest of the week.
Mr Market will largely be awaiting the Yellen though..due to speak to the US Senate tomorrow morning.
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Video - by Gordon T Long (posted today, but created a few weeks ago)
Mr Long is a bit of a doomer (not that I disagree with hardly anything he says), and is usually worth a listen, if only to be reminded of the bigger macro-economic issues.
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Notable early movers: TSLA +4% @ $258
UGAZ: -8%, and for those not using trading stops since the Monday morning peak..it is now real ugly, with a 3 day decline of around -30%
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9.06am.. we're set to open +4/5pts...close to sp'1850.