1pm update - battling for a floor

US indexes remain weak, with sig' declines in the R2K -1.4%. The sp'500 failed to hold the 1960 level, but still... a daily close in the 1950s seems unlikely. Equity bears are highly vulnerable to a whipsaw higher across the rest of the week.


sp'60min

Summary

*hourly candle is closing positive, bodes well for a floor of sp'1959
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Call it whatever you want, but the market looks floored to me. Whether we drop a little further seems of little consequence.

This is the same situation we've seen so many times already this year, and we know how it ends.. right?
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A move from the 1960s. into the 2000s looks viable next week.
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There are a great deal of notable decliners, not least the airline stocks, but we now have an apparent reversal in UAL...

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stay tuned


1.16pm... sp'1964... and we're seeing early confirmation of a floor.

Equity bears should arguably have bailed some hours ago.

Notable reversals ... to the upside in a fair few stocks..notably UAL, DAL

FCX - which I highlighted yesterday already green, +0.2%