11am update - stuck at the bounce high

US equities remain moderately higher, but have clearly got stuck a touch below the Thursday bounce high of 2102. With the recent technical breaks - especially for the Trans/R2K, market will be vulnerable to testing the key low of 2072. With the USD on the rise... the pressure is on the bulls into next week.


sp'60min

FXE'60min

Summary

*metals and Oil remain notably weak.. as the USD is offering a multi-day rally.
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So... its 11am.. and now the pressure will be on the bulls to hold the gains.. as we're due for a down wave into the early afternoon. A net daily decline is currently viable, first downside is sp'2072.

notable strength: AA +4.9%... somewhat surprising.

weakness, BABA -1.3%.... set to lose the $80 floor.... if so.. next stop is the 70/68 zone... with earnings next week.

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**I have eyes on long Oil (USO) and the Euro (FXE)... but not at this time.. or price...  some patience into next week seems a good idea.-


11.21am.. Oil continuing to unravel, -1.7%.... pressured by rising USD.... and lower oil.... will see lower energy stocks... and pressuring main market lower.

We have an interesting afternoon ahead!