Mr Market is messing with the heads of many this morning. Early gains..then..whack...but underlying imminent momentum IS up on the hourly charts. Sp'1564/66 seems likely this afternoon..at which point..its arguably time to start hitting buttons.
sp'60min - updated chart..with downside count
I've added a downside count, that extends into next Friday.
It is HIGHLY speculative, and subject to revision, but right now, thats my best guess.
Tomorrow...and the Friday close.. - I think there is a very reasonable chance we can close in the low 1540s....before a 15/20pt bounce Mon/Tue.
I remain waiting....lets give those bull maniacs a few more hours to battle higher.
*poster 'redalphbet', thankyou for your comment, but these pages have Disque installed, so your comment won't appear to anyone else. Get a disque account...maybe.
Its kinda hard to know what to cover, there is a LOT going on, even though the indexes are only up a little.
For instance, are you noticing Oil ? Its getting DESTROYED in the past 2 days. There is huge downside viable across next week.
Metals remain weak...whilst King Dollar is just super strong..and USD 84/85 looks likely within a few weeks.
I remain waiting. Lets see where we are around 1-2pm. sp'1566..even 68 seems viable this afternoon.