spdaily3 - fib issues
*awaiting EIA oil report
**a second spiky floor daily candle.. offering another sign that the bears are exhausted.
It remains messy, but having fallen from 2018 to 1812 (269pts, 12.9%)... we're clearly at increasing threat of a bounce.
re: chart' sp'daily3
I see a lot of talk about sp'2040.. but that looks damn difficult... and would take the market back above the monthly 10MA. So. no... I'm ruling that out. Instead... the sp'1970s would be my best guess. From there... target would be the low 1600s.
Meanwhile.. here in London city...
|Short term sunset for the equity bears?|
|Bear market under construction|
Another damn chilly day in the metropolis, but another day closer to summer :)
time to cook
11.01am .. EIA , oil surplus,, 4 million barrels!
Oil is seeing minor chop.... one of those days where still a lousy number, but vulnerable to upside as the energy/oil bears need to close out.
11.08am.. Oil bears are getting hit.... Oil +1.2%.... and that is inspiring the broader market.
For those resolutely holding short...its starting to look kinda ugly.