The Fed beige book is due at 2pm, where Mr Market is going to adjust to expectations for Q4 earnings and Q1 econ-growth/inflation. Indexes are weak..but remain very prone to a spike higher. Metals are holding very strong gains..with Gold +$27 and Silver +3.9%.
SLV'daily3 - H/S
The count on the hourly cycle...urghh..I don't know.
Does anyone want to count it as 5 down to 1779 ?
Regardless baring a daily close <1770...I still can't take these declines seriously.
2.07pm..market trying to confirm a possible spike-floor at 1779. Bulls need a daily close in the low 1800s, but that doesn't look viable until Thur/Friday..if at all this week.
Notable mover: FB +3%
VIX is looking maxed out..with a spiky top.
Still...bears have achieved two days in a row..in the 15s, thats pretty good.
2.32pm.. a very vain attempt at counting this nonsense.
An ABC..much like sub'2 in early November, yes?