11am update - building another bear flag

US equities are battling to build gains, but price structure is arguably just another bear flag. A break of the Friday low of sp'2067 looks due... whether late today.. or more likely tomorrow. VIX is notably holding fractional gains in the 15s. Oil has built sig' gains of 1.6%.. but like the metals... remains vulnerable.


sp'60min

sp'daily'3 - fib retrace

Summary

All things considered.. this mornings gains are just a bounce. It doesn't make much sense for 2067 to be a key low.

Best guess.. a hit of the 50dma.... before first real opportunity of renewed broader upside.
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Notable weakness: AA -4.6%... looking real ugly on the bigger monthly cycle.
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**Looks like CNBC is going all out for AAPL today... blanket coverage of the latest over priced iCrap.
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11.23am.... looking at a great many individual stockcharts.. most look pretty bearish for at least few days

*notable weakness, miners, GDX -2.9%... as metals are set to resume lower.