2pm update - hourly cycles just resetting

It is a somewhat quiet end to the week. The hourly index cycles are arguably just churning largely sideways, as the underlying cycles are reset for next week. Metals are holding the gains, Gold +$16, with Silver +2.3% - although that still makes for net weekly fractional declines.


sp'60min

Summary

No doubt some will be calling for major declines next week, after all, the jobs number was good, and we didn't surge, right?

Well, I can only highlight the previous Friday jobs event, where we saw a key double spike top in the morning,and then plunged like a rock. We sure aren't seeing that today, and frankly, price action still looks very strong.

Considering the net weekly gains for ALL the main equity indexes, I'm holding to the original target zone of sp'1925/50.
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2.13pm.. minor weak chop continues. Just like yesterday, market should find strong support around 1875.

Again, it is notable that despite the index weakness...VIX is only +1%...still set to close red.