sp'60min
sp'weekly8
Summary
..frankly, I remain in something of a daze... so this will be even more brief than normal.
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So... opening gains...failing...and an intraday swing of around 1%.. that is kinda interesting, but the minor net daily decline doesn't really give clarity either way.
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Weekly charts remain outright bearish
For the equity bears, the fact the weekly 'rainbow' candle has started the week red... it is something, but really.... either we drop to 1910/00 this week, or it ain't happening at all.
Right now, primary target would be the lower weekly bollinger, currently @ 1917. In a number of previous multi-week down cycles, at the very most, bears can hit 5/10pts under the band, before a major snap higher.
As it is, price structure is not at all clear on the smaller hourly/daily cycles. I will not be surprised to see some very diverse opinion across this evening and into tomorrow.
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...I should get back to bed...
goodnight from London