3pm update - closing hour rollover?

The hourly index charts are highly suggestive of a rollover into Tuesday. Indeed, equity bears have a window of no sig' QE until at least Friday morning. Regardless, near term downside is no more than 1.5/2.0% at most. Metals are battling higher, Gold +$6, with Silver +0.8%.


Sp'60min

Summary

So...sub'5 complete?

If yes..then 'moderate downside' for the next 5-7 trading days.which takes us into next week/December.
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I sure have no interest in trying to chase 15/25pts to the downside, whilst there remains relentless 'underlying upside pressure'.

I'm tired of playing that game.
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Notable strength in UAL.

Upside target is the 2007 double top in the $48s. So..$8... (20%) to go into spring 2014.
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3.12pm.. ohh the humanity..the indexes are turning red..sp'1802.

3.17pm.. first downside support is 1795. A micro bounce from that.and then the 1780s into Wednesday.

Regardless...no point getting overly excited about this kind of minor move.


3.26pm..well, sub'5 looks to be confirmed complete at 1808

Downside of 1.5/2.0%..to the low 1770s.


3.37pm...Tuesday looks set for a weak open..maybe Dow -75/100pts..before a bounce.

Interesting micro double top on the sp' today at 1808...I wonder how many were shorting that this afternoon!


3.52pm.. certainly, a somewhat weak closing hour.. and bodes bearish for early Tuesday..if not also confirmed sub'5 top at 1808.

back at the close!