sp'15min
Summary
Suffice to say... despite the latter day gains, I'm not confident the market is going to soar on 'isn't everything fine GDP/PMI' data.
Best guess... a hit of the 200dma of sp'1973 tomorrow, before a rebound. However, I have LOW confidence in the near term. It is a real mess.. and borderline situation.
-
*a monthly/Friday close <sp'2000 will result in MARCON'6 for the sp'500... which would be the first bearish monthly close since Jan'2012.
-
Notable weakness: FCX -4.3%, as the metals market is whacked.
3.27pm.. market making a play to break down trend... threshold is around sp'2022.
VIX continues to cool. -7% in the upper 18s.
--
If the bull maniacs are going to pull a late week recovery... this is almost half way there....