S&P futures are pointing to a triple digit Dow gain at open, HSB Bank reported sharply higher earnings, putting less away to cover bad debts.
IN THE BOX ABOVE is our trading zone, above the gap up this AM players will be gunning for the SPX 200 moving average, I switched to a SIMPLE computation as I believe this gives a more balanced view.
Is this the start to another big rally push? we are already in overbought territory by most measures.
A flattening MA such as the 200 shown can be like a magnate to any push higher above it and offers LESS support than a rising one.
In STARK contrast sits the 20 yr bond at or under 3% yield screaming deflation not inflation, warning something is still wrong. IMHO
D
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