sp'daily3 - fib retrace
Summary
*It remains highly uncertain if 2110 is a short term high... if so though.... a retrace to the 50dma remains the natural downside target, but clearly.. that is not going to happen this week.
Underlying MACD (blue bar histogram) is ticking over on the daily cycle.. and does offer moderate hope to the bears of equity market weakness into next week.
As for this morning... if Yellen starts talking a little too much of possible interest rate rises this summer (or whenever)... it'll be very fair excuse for the market to sell lower.
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Notable early strength: HD +3.5% @ $116s, on rather superb results