1pm update - sub sp'1700s not viable

In the immediate term at least, sub' sp'1700s simply do not look viable. The best the bears can get in the near term is a test of the recent 1760 low, perhaps 1750/40..by mid Dec, the 1770s will act as major support.


sp'daily5

Summary

Not much going on today...mostly chop..as expected.
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The above chart should concern all those who are seeking some sort of significant end year fall. Frankly, I find that now entirely implausible.


UAL holding the breakout..and building gains....

The 2007 high of $48 remains the target...assuming the main market holds together into late spring 2014.
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1.33pm.. renewed push lower, sp'1785..  will be tough to break into the 1770s. I guess the wave counters could count this down as a small C' wave..which should floor before end of day.

Looks about done.