US equity indexes remain somewhat mixed, and the closing hour is set for further mixed chop... leaning a little on the weaker side. With the USD +0.5% in the DXY 95s, the metals are under pressure, Gold -$18, with Silver -0.6%. Oil is 0.2% in the $43s.
Price structure on the hourly equity cycle is offering a bear flag, with renewed downside to the sp'2065/61 zone next Mon/Tuesday.
The ultimate issue is how the market will react to Yellen next Wed' afternoon. Will the market soar back into the 2100s..and push to new highs.. or see further cooling to the lower daily bollinger in the 2050/40s?
Right now, I'm still with the latter scenario.
Even if we do decline post-Yellen, we'll no doubt then bounce again.. and then its a case of whether a lower high <2111 is put in.
back at the close