It is getting parabolic here with the minis up 6.5 this morning. Ramp City deja vu?
Earnings Calendar -
Economic Calendar - Consumer confidence at 10:00. A bad number here will surely spike the SPX over 1200.
SPX Daily - Possible divergences being set as even some of the daily indicators are starting to embed now. At the 200ma, the upper BB and resistance here. My 1111 target may be about to get dusted and we'll have to adjust to the 1149 area if that is so. I do not think it gets above the third target, if it even gets to it.
SPX 60m - (the 30m chart is a couple of posts below if you want to see that one) - How legit is this breakout? Is it to legit to quit? To legit? To legit to quit? Markets are blowing thru normally reliable divergences and I really think this is a blow off top here, but that said I'm not shorting it yet. I'll say that when it does turn it is gonna bolt. Be patient is all I can say. We're gonna have to get thru this earnings BS and then reality will set back in.
GL!
