Saturday, 14 May 2016

A third week for the equity bears

US equities ended the week on a pretty negative note, with the sp'500 seeing a third consecutive net weekly decline of -10pts (0.5%), settling @ 2046. A major down wave looks due in late May/early June.. with broader market upset across the summer.




*a notable third blue candle, settling under the 10MA.

Suffice to add... a third consecutive net weekly decline, with this week's candle somewhat spiky... and is suggestive of upside exhaustion.

Goodnight from London

*the weekend post will cover the US weekly indexes