sp'60min4
vix'daily
sp'daily5
Summary
As the hourly index charts all show, the bears need a break of that rising channel, which by the end of today will be around 1465. A close under that..opens up the 1450s on Monday.
Lets be clear though, the daily chart is still VERY bullish, and as I keep noting..even a move down to the low 1420s..- by the end of next week would do NO damage to the mid-term outlook for sp'1510/20.
Metals remain especially weak...
*metal charts...coming...soon....
GLD, daily
SLV, daily
Its starting to get a little ugly Daily MACD cycles ready to rollover...hmm.
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UPDATE 1pm You can see how a close of 1465 would be useful, in that it'd make this at least flat week, after last weeks hyper-ramp candle.
Underlying trend is clearly still UP on the weekly charts, and even a retracement next to the low 1420s wouldn't wreck the trend since November sp'1343 low.
With 3 hrs to go of the trading week, lets see if we see some minor selling into the weekend.