US equity indexes closed mixed, sp u/c @ 2091 (intra low 2081). The two leaders - Trans/R2K, settled higher by 0.9% and 1.0% respectively. Near term outlook offers pre-FOMC cooling to the 2065/61 gap zone. How the market trades after Yellen is out of the way... very difficult to say.
sp'500: fractional break of rising support, and closing the week effectively flat.
Dow: a marginal break of rising support, having cooled from 18167 to 17909. First downside is the 17600/500s. Those seeking clarity that the broader bearish scenario is intact, will need to see a break under 17K.
Nasdaq: a very decisive break of rising trend, with a weekly close just above the 4900 threshold. The daily candle was of the reversal type.. and bodes in favour of the equity bulls.. at least for the Monday open.
An intraday video from Mr C... I think merits some attention...
The 'failed head test' scenario remains valid unless a break and hold above the Nov' high of sp'2116. It remains notable the Dow has already broken the equivalent level (17977).
There is also some interesting commentary on the USD and Gold.
re: Gold is NOT going up for no reason, and although Oscar hasn't said, I'll define it as underlying capital market unrest.
a little more later...