2pm update - standing by

Mr Market is seeing another up cycle..and there is a real threat of a close in the mid 1560s. The bigger daily and weekly charts are now clear though...sell the rallies. Oil and Metals remain under severe pressure..not least from the relentlessly rising USD


sp'15min

Summary

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Best guess...

sp'1562/63 by 3pm...at which point...I'll be hitting buttons.

There IS a 'small' risk of a jump at the Friday open to test the 1576 high, but considering the MANY bearish indictors out there (not least..Oil)... I think the risk/reward is more than reasonable.

Downside target for the Friday close is sp'1540
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2.15pm...still waiting..sp'1560s seem very likely.

2.25pm...eyes on those smaller cycles!

sp'15min

mid 1560s..remain viable..within 15-45mins