3pm update - rally into the close

The smaller 5/15min cycles are primed for upside into the close, not least with underlying upward pressure from the hourly/daily..and bigger cycles. Metals/Oil remain strong with gains of 2%. A close in the sp'1700s will be difficult, but if achieved, would confirm yesterdays apparent turn.


sp'5min

sp'daily5

Summary

As I type, the micro 5min cycle is trying to break back upward.

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Well, its been a messy few days, lets see how the closing hour goes.


3.16pm.. Equity bulls should be content with any close in the 1690s, but 1694 or higher would make for a great floor-spike daily candle.


3.30pm...Market is set up almost exactly the same as yesterday, a little ramp into the close still looks likely.