2pm update - minor down cycle

Market is offering the bears a minor rollover, back to the mid sp'1870s, but in the scheme of things, it is entirely irrelevant. Metals remain weak, Gold -$7, Silver -1.4%. Oil is also weak, -0.6%. Equity bulls have little to prove into today's close.


sp'60min

Summary

*to be clear, by end of today, I do not expect market to be <1875.
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So, we're seeing an hourly cycle rollover, and I realise some will be getting moderately excited ahead of tomorrows jobs data.

Yet.. the bulls have nothing to prove. The recent 1884 high has been decisively broken above.

Even the Nasdaq (I'll highlight it later), has broken descending resistance.

Transports is strong, and close to breaking a new historic high.
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Price action remains outright bullish on the bigger cycles, and anyone shorting the indexes into today's close is vulnerable to getting nuked at the Friday open.