Equities open with some mixed chop, and the sp' has failed to hold what was a bull flag on the hourly cycle. Bears have a narrow window to knock the market lower, <1779, to complete an ABC scenario. Metals look weak, stuck under broken support - a significant drop is viable into year end.
So...we're seeing a market that is actually starting to slide...surprisingly.
..the ABC scenario is back on.
Bears arguably have a very short window until early tomorrow, when another truck load of QE-pomo is delivered. For all those on the short side...now you have a chance...
Secondary: 50 day MA around 1760.
10.14am.. well, no QE today..no real news due...bears have their chance to make their C wave to the low 1770s..which seems 'best case'.
Weakness everywhere...even the FB is lower by 30 cents..ohh the humanity!
10.32am...washing out all the weak bull hands. Another 15/20pts lower..and that should be it.
I realise..a lot will be relieved at this decline...the much needed C wave ! You're getting your chance to exit !