Tuesday, 8 March 2016

3pm update - baby bear flag

US equities remain moderately weak, with the sp'500 so far unable to clear the hourly 10MA (1992). Price structure is offering a baby bear flag, with threat of renewed downside to the 1975/65 zone. Regardless of any Wednesday weakness, further upside >2009 still looks due.



little to add.

Regardless of any near term downside.. still seeking one more push upward

notable weakness... miners, GDX, -3.7%... the 18/17s look due by middle of next week.

3.08pm.. baby bull flag on the VIX.


So.. the setup is weak into the close.. and early tomorrow.
Again, the next EIA report will be important... the bulls really need to see the market cope with another lousy inventory number... and push oil back into the $38/40 zone.