A third week for the bears

With a major failure to see continued upside from the Wed' low of 2039, equities closed the week on a negative note. The sp'500 saw the third consecutive net weekly decline of -17pts (-0.9%) @ 2053. Near term outlook offers a chance of an up wave to 2070.. before renewed downside to at least sp'2010/00 zone.


sp'weekly2

Summary

*a red candle to close the week.. confirming last week's (blue) provisional warning of trouble.
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Its been a long week...   I will close with this...

WTIC Oil, weekly

A pretty extreme net weekly decline of -9.9%. Oil looks set to lose the January low of $43.58, and fall into the 30s. 
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Interesting bearish chatter on Bloomberg from Milton Berg... see: HERE
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Goodnight from London
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*the weekend post will be on the US weekly indexes