3pm update - a close above the 50dma

Regardless of the exact close, the equity bull maniacs look set for a moderate victory (not least after lousy jobs data), with a sig' daily gain of around 1%, but more importantly.. above the 50dma of sp'2073. Any daily close above the 2088 high.. would bode badly for the bears.. but 15/60min cycles argue against any higher.


sp'60min

Summary

Price structure is a rather clear bullish F flag.

It is HIGHLY notable that the past 3 flags have all failed.

So.. unless bulls can keep on pushing..  Tuesday will see a strong swing lower.. and once again, it will be a case of whether the 2039 low can be taken out.

Best guess... market will remain stuck <2088.. .and break lower tomorow morning.
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Without question.. this year is turning out to be a real mess... stuck between sp'1980 and the recent historic high of 2119 - a 7% range across the last 9 weeks.
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notable strength: oil/gas drillers, RIG +9.5%, SDRL +7.7%
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3.08pm.. Market looks maxed out at sp'2086.... VIX looks floored.

Hourly MACD cycles are turning... bulls have a problem into tomorrow.


3.19pm.. The F flag is in danger of being broken into the close..... 2080 would clarify matters.


3.41pm. Provisional FAIL of the F flag....  VIX set to turn positive.

Rats getting twitchy....  back at the close!