sp'60min
sp'daily5
Summary
*the smaller 15/60min equity cycles are both offering a closing hour rollover, which in theory should be the case.. if we're going to see a cycle low by end week.
--
It remains a bit of a confusing mess.
The daily/weekly cycles are still suggestive of further weakness.. lead lower by the Transports.
Overall, the threat remains of another 'dumb rally' into early July... not least helped via a cooling USD. How long until earnings for some of the big intl' stocks are upgraded when DXY 92/90 in a few weeks?
What is clear... the mainstream is getting increasingly twitchy about downside this summer/early autumn.
-
notable gains in energy prices, Nat' gas +4.9%, with Oil +2.7%. Bullish US consumer?
-
3.28pm... indexes rolling over... as expected...
Ohh lookie...
Another 5bn to buy back stock.. to prop up the share price. Western capitalism at its finest, right?
-
3.34pm.. Somewhat amusing to see clown TV host getting twitchy.. as some indexes are set to close lower for the fourth consecutive day.
How can Yellen let this horror continue?
-
3.46pm.. Eyes on Intel (INTC)... a net daily decline.. would be the 7th in a row... that'd bode pretty bearish for main market. Near term target remains the $29s.