Higher on more follow through.
News:
PPI slightly hot. Housing Starts slightly cold. But this may say it all.
At least until the Fed minutes today at 2pm (when anything could happen).
FX:
Mild Risk On thus far. CAD strength. USD firm.
Treasuries:
Prices still coming off with lighter volume.
Energy:
WTI crude up 3%. NG has so far failed to hold gains from its recent retracement. Needs to get moving.
Metals:
Gold has held the 1200 level so far. Silver flat. Platinum, palladium, and copper up roughly 0.6%.
S&P Outlook:
A volume shelf at 1913 should get tested and exceeded today at the open. Closing above 1915.45 could target 1947.20.
Watch out for the 38% retracement, however, at 1927.14. This needs to be cleared convincingly.
Elsewhere, the bull buzz keeps morphing.
At bear market lows, extreme negative polarity is represented by the following aspects (among many others):
Fuzziness
Depression
Avoidance Of Effort
Somberness
Despair
Pessimism
Dullness Of Focus
Thus, people tend to look for drugs, music, fashion, and art that reflect and mirror these aspects.
Caffeine, as a stimulant, is more for bull markets.
Therefore, more caffeine, this time in the form of bracelets for trans-dermal delivery, might reflect the continued appetite for buzz, and could suggest a continuation signal for the markets which fits the Reboot/Reset thesis.
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