sp'15min
Summary
*as ever... I adjust/refine.. as necessary all targets... not least as price action/structure suggest
--
Best guess.. a simple ABC retrace... which in theory.. should level around the 50% retrace of 2084.
A weekly close in the sp'2100s now looks increasingly probable.
-
Notable weakness: energy stocks, CHK -4%, BTU -1.5%, RIG -5.0%
-
11.01am... Viable double floor on the 5min cycle.... that could be it.... even 2085 now looks difficult.
In any case... after yesterdays gains, door is wide open into the 2120/30s.
11.23am... Market appears to have put in a double floor of sp'2089/90.... at the 38% retrace.
Now its merely a case of how high we climb..... it is notable that the R2K is already positive.
11.33am.. Hmm.. fractional new low... so.. the 50% fib retrace (sp'2084) is viable (again)...
Notable weakness: AAPL, --0.5% in the $127s.... but looks headed for 130s...