sp'60min
Summary
A move back to the big 1900 threshold looks extremely unlikely in the remainder of the year, although I realise... a fair of the usual suspects (good morning deflationland, Daneric.. et al) would disagree with that
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Right now, a retrace of some kind.. at least to the 50dma.. now 1971 (and rising).. still looks due.... but that is a clear 3% lower.
How we are going to fall that much this week? There sure isn't any planned econ-news/events of any significance.
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Notable strength, RIG +2.4%, having finally issued earnings.. which were fine, but the outlook for spring 2015 sure doesn't look pretty.
RIG, weekly
Price structure could merely be a temp' floor - like August. The bigger monthly charts are offering the 20/17 zone within 3-6 months.