US equities closed broadly higher, sp +9pts @ 1912 (intra
low 1872). The two leaders - Trans/R2K, settled higher by 1.0% and 0.1%
respectively. Near term outlook offers broad upside to the sp'1970s
next Wed/Thursday, when the Yellen will appear. Sustained action >2K still looks out of range, with regular bearish price action still supporting that notion.
sp'daily5
Trans
Summary
*price structure on the Transports remains a very clean bear flag.
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Suffice to add, a rather dynamic day in equity land, with the sp'500 seeing a swing of 2.3% from 1872 to an afternoon high of 1918.
The daily candle is offering a rather clear spike floor, with probable upside next week.. to the 1970s.
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a little more later...
