sp'daily5
sp'weekly7
Summary
... a semi-holiday in the US today.. so it will be somewhat quiet.... and that would normally favour the equity bulls.
Broadly, market looks on track for the 2040/60 zone. All that matters now is whether we see a monthly close above old broken support.
Frankly, it is not looking good for the equity bears.... not least with China getting very close to a key breakout.
The one valid excuse for a wave lower will come next week.. with yet another FOMC. Will the market sell lower on no rate rise again, or actually rise into end month >2060?
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Doomer chat, Hunter with Williams
Williams remains on the 'inflation is coming train'... and in that respect.. he remains... wrong. As ever, make of that... what you will.
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Overnight Asia action...
Japan: CLOSED
China: +3.3% @ 3287. Any sustained action >3400 would be suggestive that the decline from June is complete.
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Have a good Monday