2pm update - tired indexes

The main indexes are looking a little tired on the hourly charts. A little weakness into the close would be natural. There is strong rising support, which at the Friday close will be @ sp'1645, so bulls have a 12pts downside buffer. Metals remain weak, but Oil is now a touch higher.


sp'60min

Summary

Hourly charts are indeed stretched a little too far. I'd have to guess we pull back a little in the remainder of the day.

Perhaps a weak Thursday open, and then melt..all the way into the Friday close?
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*I sit on the sidelines, and look to go long Oil (via USO) tomorrow.
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AAPL remains especially weak...

The bull flag is clearly broken, but perhaps its still just a minor pull back. I do not expect new lows.