sp'daily5
Summary
The third little blue tower on the MACD cycle has indeed developed this week, and today showed the first sign of a rollover. Bears should look for some follow through - even if its just a few pts lower, on Monday.
Clearly though, bears really need to see a break below sp'1350 to open the door to the next key zone of 1310/00. It is very viable we could hit that level near the end of next week, but we'll need VIX back above 20..
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I'll probably do a weekend update late Saturday, detailing the state of the weekly cycles. Suffice to say, it was a very mixed picture for the week as a whole.
Goodnight from London