Well, its been another crazy week in market land. With FOMC ramp to sp'1438, we were on the border of a major breakout, but no. No one wants to buy at these levels, and with the year soon coming to an end, year end selling is going to be a persistant feature.
Ohh, and then there is that little matter of the cliff.
There is a lot of weakness out there, a close <1410 would be a bonus to end the week.
The only variable not currently in favour of the bears is the dollar, -0.44% at present.
UPDATE 3.14pm Market showing the weakness I expected.
I rarely ever highlight this one...
sp'daily6 - Keltner bands
Highly endorsing my near term target of 1385 early next week.
UPDATE 3.25pm Transports indeed rolled over..first big target will be 5000.
Its been a long week....
back after the close.