3pm update - holding at resistance

US equities are holding around key resistance @ sp'1970. There are a great many aspects of further resistance in the 1970/75 zone, not least the 50 dma at 1974. Even if the bears manage to hold below 1970 into the close, the bulls will have another chance on Monday.


sp'60min

Summary

Well, its the closing hour of the week, and frankly, this is an absolutely critical time.

VIX is utterly failing to show any hint of a turn... and is almost a full 3pts below the weekly 200MA.. which was a 'reasonable' target just yesterday morning.
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3.21pm.. STILL stuck around resistance.

There is a minor break of trend... there is 'small' possibility of a little down wave to 1962/60 by the close.

Regardless, a day for the bulls..and it makes for a LOT of uncertainty into next week.


3.40pm... tiresome day and a half.... I certainly didn't expect this... oh well.

With a likely close in the sp'1965/70 zone... it will leave a lot of uncertainly across the weekend.

...back at the close.