3pm update - chop into the close

US equities are set to close with further minor chop for a fourth consecutive day. The smaller 15/60min cycles are arguably floored at sp'2020, and with an ECB announcement/press conf' tomorrow, the equity bears should be very mindful that Draghi might help inspire a major break above the 200dma.


sp'60min

vix'60min

Summary

Tiresome day.

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*Oil remains notably weak, -1.7%... having tried to rally after the inventory reports.... failed.