11am update - back to messy chop

Equities break to a low of sp'1947, but have already bounced back to the upper 1950s. Overall price action remains weak, with a clear disparity between the hourly/daily cycles (mixed) to the outright bearish weekly cycles.


sp'60min

sp'weekly8

Summary

So... mixed weak chop, with the bigger weekly cycles still flashing red for a sell.

As ever, bears usually have a very limited time window to press lower before the algo-bots run it right back up, this mornings opening hour was depressingly normal.
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Notable strength: TWTR +2.5%...

whilst SODA is -20%.. after a pretty dire admission of failure to attract customers.


11.19am. Renewed weakness... need VIX 17s to clarify the trend.

Notable strength: oil/gas drillers, RIG +3%, SDRL +3.6%...