On track for an FOMC peak

Despite the recent few days of moderate weakness, the US equity market remains on track for a key peak next week, most likely, just after the FOMC announcement of March'19. Near term outlook is for upside to sp'1890/1910, with subsequent primary downside to 1750/30 by late April.


sp'weekly8

sp'daily3b - sub'1 extrap.

Summary

This morning, with the break into the sp'1850s, the 'rainbow' weekly chart flipped from a green to blue candle...the first initial sign of real trouble.

re: daily3b. It remains a simplistic thing to do, but just reverse extrapolating the sub'1 wave to a fifth..gives 1890/1910...with a time frame of none other than March'19. Interesting huh?
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Looking ahead

Thursday has retail sales data, import/export prices, business inventories, and the usual jobs data.

*there is sig' QE-pomo of $3-4bn...bears beware!
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Goodnight from London