3pm update - the chop continues

The market remains seeing a lot of price chop, with the Sp/dow lower by around 0.2%. Certainly, a pretty dull day. The smaller 15/60 minute index cycles are offering gains into the close, but there is increasingly stiff resistance at sp'1700. Oil is especially weak, -0.8%


sp'60min

Summary

Its tough to call this close. The smaller cycles are certainly offering upside, but..there isn't much power on the upside right now. It merely seems to be a case of 'slow melt lower', which is ironic, considering the QE-pomo today of around $3bn.
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A stock I continue to notice today...STX.. one of the strongest ones out there today...

updates into the close..if necessary
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3.13pm.. market making a play to break resistance again... its pretty clear..a daily close in the 1700s would open up much higher levels.