Wednesday, 6 January 2016

2pm update - choppy, but still a bear flag

Price action remains moderately choppy, and there remains high threat of a brief push to the sp'2005/07 zone by 3pm. From there, renewed weakness into the close looks probable, as most should realise 1986 is no more a key floor than 1989 was. Oil continues to break new lows, -5.0% in the $33.90s.


USO, daily2


*from a pure cyclical perspective, the 15min MACD cycle is on the low side, and it makes for a lousy short level.

There IS threat of a push upward.. before cooling into the close.

Suffice to add... typical turn time is around 2.30pm.  If we're around 2005/07.. I'll take it!

Seeking 1960/50s as a basic target... and that is clearly viable before the weekend.

stay tuned.

2.20pm.. upper bollinger on the 15min cycle... sp'2000... won't be easy to push much past there.