10am update - opening minor bounce

The main indexes are holding very minor gains to start the month, with the sp' in the low 1760s. Considering the previous two days, the 1775 high looks unlikely to be breached, and renewed weakness down to the 1740/30s is highly probable within the next few days.


sp'60min

sp'monthly

Summary

*I want to note the new monthly charts, where the upper bol' has jumped to the 1790s. Clearly, by late November, the low 1800s will be viable. Perhaps we'll get to the 1830/50s in early/mid December, before some HEAVY profit taking to conclude the year.
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Anyway...I don't expect the current minor gains to hold today...seeking weakness as the day develops. Equity bears should seek a weekly close in the 1755/45 zone, which will easily allow 1735/30 next week.
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TSLA, minor bounce..back testing the old broken channel?

Earnings at the Tuesday close, I still think that is a $110/100 stock in the near term. One to watch!
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10.18am. This market stinks of weakness, hourly charts offering an opening failed bounce..as expected.

Best guess, we close somewhere in the 1740s. I'm not sure if that will turn the weekly charts back to marginally bearish.