sp'15min
sp'60min
Summary
So, we're set to open somewhat lower, and if things quickly unravel, there is indeed threat we'll end what has been a wild and crazy week, on a somewhat bearish note.
If the ABC theory (see 15min cycle) is correct, we'll see a washout somewhere in the 1945/35 zone complete by early afternoon, with some degree of recovery into the weekly close.
The fact the hourly MACD (blue bar histogram) cycle is ticking lower certainly adds some credence to the notion that we need to marginally break the Thursday afternoon low before the market can break above the big 2000 threshold.
early movers
AAPL -0.5% in the 112s
DIS -0.7% in the 101s
FCX +13% in the 11s... as the stock has garnered attention from Icahn.
NFLX -0.9% in the 116s
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Doomer chat from Hunter
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Overnight China action: Very similar to Thursday, with the Shanghai comp' struggling across the day, but then a powerful late day ramp, settling +4.8% @ 3232. Again, the speculation in the mainstream is that the Chinese leadership are adamantly propping up the market ahead of some WW2 event, Sept' 3rd I believe.
Have a good Friday
7.05am sp -16 1971... almost half way to target
8.00am. .sp -11... 1976
meanwhile.. concluding the week....
yours... no fan of the meddling monetary gods at PRINT HQ
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9.36am.. So much for the weak open... almost net positive !
In any case, the hourly cycle is still ticking lower.. and threatens weakness as the day proceeds.. and possibly into Monday.
For those looking to go long - myself included... I don't see a reason to hurry.
9.42am.. Hmmm.... so... right now.. minor chop.... and it seems to be a case of 'sit it out' until next week.
AAPL -0.6% in the $112.20s.... I really ain't interested unless 109s