sp'weekly2, rainbow
sp'daily3 - fib levels
Summary
More than anything tomorrow, bears should be seeking a weekly close back in the sp'1570s. This would flip the 'rainbow' weekly charts back to their provisional warning status.
*I will note that the Trans, R2K, and NYSE, are STILL holding blue candles, whilst the headline indexes - Dow, SP, and Nasdaq are green.
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The Fib' chart is again updated, and now the primary target is raised to sp'1500, with the 1485/75 zone a very valid secondary target. Right now, the notion of breaking into the low 1400s in May..seems very unlikely.
Looking ahead
We have a fair little array of econ-data tomorrow morning. There is the big retail sales data, but there is also consumer sentiment, business inventories, and also producer prices. There will also be some earnings data.
So lets see how Friday goes. I can't emphasise enough how important it (arguably) is, for the bears to see the market close the week on a down note in the 1470s.
Goodnight from London