sp'daily5
Summary
*5/15min cycles look floored, and hence I'm looking for a micro rally into the close.
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So.. we've got stuck at sp'1991. There is obvious channel resistance there, but still a new high.. is a new high.
The black-fail candle (8515) on the Transports yesterday is something I am wondering about.. since we got stuck at 8513 today.
Regardless...the bulls managed another new high today.
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3.18pm... chop chop... sp'1987... smaller cycles look floored... 3pts to get a daily close in the 1990s..not that its 'necessary' of course!
Bulls have NOTHING to prove.
*notable weakness. airlines, DAL/UAL, both -2.5%....
that makes for a rather strong reversal. Black-fail candle at the open... I was 'overly' dismissive.... of one of my own key issues.
3.37pm... indexes trying to claw higher... sp'1990... just about viable.
3.44pm.. some spike floor hourly candles.. for the indexes....bodes bullish for Friday.