11am update - bull flags all over the place

Whilst the indexes have turned slightly positive - but still in general chop mode, the daily charts are offering pretty clear bull flags into late Jan/early Feb. It remains highly improbable that we'll be breaking back under sp'1800 any time soon.


dow'daily

USO, daily

Summary

*Oil remains weak, -0.9%.
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Price action remains strong..and yet I'm still seeing people tout major declines within the next few weeks.

Huh? How are we going to see consistent major declines, when we have this sort of price action.

After all, the past week - if you look at the daily MACD cycle, is the DOWN cycle. A down cycle..where we are a mere 6pts from the historic high.
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Notable strength: NFLX +3.4%  (bullish, house of cards?)