sp'daily5
Summary
So.... we've taken out the key low... and we're continuing on our way lower.
Primary target looks to be the 200 day MA on most indexes, certainly sp'1904 looks viable today.
To be clear..... I do not expect a sustained move under 1900 in the current multi-week down wave.
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Update from Oscar.. who is back to bearish
This is 'something different' Mr C notes... yes... and that is EXACTLY what I've been noting for some time. This is especially the case on the bigger weekly/monthly cycles. Price action/structure IS different from anything we've seen since late 2011.
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Good wishes for Friday trading
8.56am.. Futures turn back to flat.... sp'1928... but still... there seems little reason why we won't fall another 1% at some point today.
Indeed, to hit 1904, just need a daily fall of 1.2%.... VERY viable... and that would make for a floor...before the earnings really start to flood in next week.