sp'60min
Summary
Well, its turning out to be something of a tedious day.
Certainly, bears remain in control of the immediate trend, but the declines we're seeing are only moderate.
Things only get a little interesting with a break <1779, which opens up a test of the 1777/70 zone.
I still don't expect that to be broken.
--
Notable strength in TWTR
The big $50 before year end? Just who wants to buy that right now? Even the FB is infinitely more appealing.
2.07pm.. bulls just need to close >1791..to break the near term down trend. It really isn't asking much..so..bears still have real problems on any minor move higher.
2.29pm.. For those on the short side right now...a break <1779...opens up a Friday close in the 1770/65 zone.. That is best case.
Worse case...we close today above down channel.. >1791..and that opens up 1805/10 tomorrow.
Frankly..this is VERY marginal..and hard to call.
If I had to guess..I'm still saying...UP - as based on hourly charts, and recent price action.