3pm update - weakness into the close

US equities are holding moderate gains, but look set for weakness into the close. Price structure is a near perfect bear flag, and equity bears should be seeking a break under 1955 to confirm a new way down is underway. Primary downside target remains 1940/35.


sp'60min

Summary

Well... 15/5min cycles are PRIME for breaking lower into the close.

Lets see how many of the rats want to exit into the close.
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3.05pm... early warning sign... rolling over.... 1956


3.19pm.. micro chop...but the setup is there... we're due to fall from here...although downside is a mere 1%...not much more than that.
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3.25pm.. a micro double top at 1958 ?

Regardless, we are due to fall....
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notable strength: FB +2.5%


3.30pm... I see a double top....... invalid if 1959 ..

come on bears..where are you?

3.34pm.. they are selling the 1958s


.. 1959... fail. oh well.
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3.39pm... and the short stops are getting hit... 1960.....    VIX -5.9%...

3.46pm   sp'1960... and just no downside pressure, but price structure remains a VERY clear bear flag.


3.52pm... so...still a bear flag.. and I'll be seeking sp'500 to lose 20/25pts in the near term.. by the Friday close.