Price action remains somewhat messy, but the baby bear flag seen on the hourly equity cycle has already been broken, with the door wide open to the sp'2060/50s. USD is notably holding gains of 0.4% in the DXY 99.40s, and that is keeping pressure on the metals (Gold -$4), and Oil, +0.6%... if somewhat choppy.
*re: UUP, a giant bull flag... and its already breaking upward... a year end close >DXY 100 really doesn't look a bold target.
So.. a bit of a messy opening 90 minutes, but price action/structure broadly favours the equity bears into next week.
The sp'2020s remain a realistic target for next week, before resuming higher into the Dec' FOMC.
notable weakness: AAPL, -2.5% in the $117s
FCX -4.9%... miners under pressure... as king dollar remains a core problem in commodity land.
TSLA -2.9%,... the loss making car company.... does Mr Musk want to ever turn a profit?
TWTR -2.0%... the momo train wreck remains broadly weak.
time to shop... back soon