3pm update - net daily gains

US equities look set for moderate net daily gains, with a daily close in the sp'2112/22 zone. VIX remains reflective of a market that has virtually no concern of anything, +1.2% in the 12s. There is notable weakness in the Euro, -0.6%.. in what is a minor retrace of recent strong gains.


sp'60min

FXE'60min

Summary

Price structure on the equity hourly cycle is a baby bull flag, and its arguable that we've already seen some initial confirmation of it.

Regardless of the exact close... market looks like it wants to battle upward ahead of the Friday jobs data.

Again, the issue will be...  'is good news going to be perceived as good news?'.. or otherwise?
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**I remain content on the sidelines... but with eyes on USO and FXE as likely longs.. this Tue/Wed.
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back at the close...