2pm update - bears getting tired

Despite a minor down wave from sp'2041 to 2028, the earlier floor is still holding. The market has declined for 7 of 8 days, and broadly.. another multi-week up cycle to challenge the May highs (in some indexes) is due. Metals remain weak, Gold -$2, with Silver -0.5%. Oil is set for a net weekly decline of around -9%.


sp'60min

USO, weekly2

Summary

*another somewhat spiky equity hourly candle.
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On any basis, we're holding around the target zone of the 2020s....those who are short are getting a 'reasonable' level to exit into the weekend.

Those who want to go long are getting opportunity almost 5% lower from last Tuesday's high.

There can be no complaints today.
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notable movers...

JWN -16.7%
CSCO -6.9%

BAC -1.3%.. as 'fears' increase the Fed won't raise rates at the Dec' FOMC.

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back at 3pm