Closing Brief

The close below the 1380 level should be seen as a tiny victory for the bears, but the hourly charts ALL now have bull flags, and the MACD cycle is fully reset.


IWM

Dow

Sp

Summary

Yes, we closed at the low of the day, but its minor noise, and can't be taken seriously. You can see bull flags (pink) on the hourly cycle charts, we could easily gap out of that at the open tomorrow ,or battle our way to 1395/1400 if the market likes what the fed has to say.

As ever, high risk holding into a Fed day. Urghh

More later