|It is shaping up to be another in your face moment for the Index bears.
Italian & Spanish Bond Futures have been rallying for a week and continue to do so.
Oil held qtrly closing support yesterday.
52.45 is where the daily oscillator needs to get above to turn up.
This will act act as today’s resistance.
A close today above 51.64 would make this the highest weekly close since April.
Nikkei is at closing levels not seen in over 20 years.
The board is not bearish.
Risk spreads are relieving Rsi’s.
last nights low in the all session Spu/Bonds happens to be its daily oscillator.
It would have to close below that level to have any chance of losing upside momentum.
The later it gets in the day the worse it will be for the Bears.