10am update - stripped bare

US equities open a little lower, but there just isn't any significant power on the downside. Price structure on the bigger daily/weekly charts remains strongly bullish. Despite the USD a touch lower, Oil/Gas remain weak, -0.15%.


sp'60min

Summary

*I've removed all the annotations on the hourly chart. I think many are getting overly wrapped up in the minor noise again.

How can people seriously get bearish when we're breaking new highs almost every single day? Its simply..... crazy.
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Bigger picture outlook remains unchanged... sp'2030/50 zone by FOMC/opex week.

sp'weekly'8

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Notable weakness: oil/gas drillers, RIG, -0.8%, SDRL -2.1%. The latter now looks pretty dire on the daily/weekly charts.

back at 11am