The smaller 5/15min equity cycles are arguably maxed out, at sp'2065, with VIX -7% in the 13.10s. With the USD holding gains of 0.8%, commodities remain under pressure. Gold -$14, whilst Oil is -2.3%.
*yes, the bear flag is borderline right now. Need a break lower of 7-10pts by the close..
Overall.. its getting a bit tedious again, and that is just one of the reasons I have zero interest in trying to trade the smaller down cycles. To me.. seems a waste of time.. not least whilst the broader trends are higher.
Notable weakness, oil/gas drillers (as usual)... RIG and SDRL, both -2.7%
2.32pm.. Market stuck.... still set to break lower into the close.
The one aspect completely failing to offer any concern.. the VIX,...-8% @ 13.12.