sp'60min
Summary
*the weather this afternoon in London city... just lousy. Grey gloom, rainy... windy.... about as depressingly awful as it gets. I guess it must be like what Seattle is like all year, gods help them!
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So... 2k fails... and market is showing ZERO sign of leveling out.
The only hope for the bulls is a good GDP data point tomorrow, but by then.. .we could be in the sp'1980/70s.
Lets be clear, if the 200dma fails at 1972... the next support is not until the lower weekly bollinger... around 1910. A hit of the latter.... would open up much lower levels in the spring.
As ever.... in order to turn the bigger picture bearish, how we close the week and month is what really matters!
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Notable weakness... the BABA, -10%
Relatively good earnings, but not good enough to avert a sell down.