10am update - opening weakness

US equities open a little lower, and look set for a test of the 200dma (sp'2063) today. With the USD +0.4% in the DXY 99.40s, the metals are under pressure, Gold -$4, and that is not helping the related miners, GDX -2.5%.


sp'60min

GLD, daily

Summary

*metals/miners... same old problem... holding within a broader down trend.. with the USD being a periodic downward pressure.
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Price structure on the smaller hourly equity cycle remains a clear bear flag... a break to the low sp'2060s looks due. A daily close in the 2050s looks possible, but sustained action <2050 looks difficult this week.

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notable weakness....

AAPL, daily

I'm not aware of any reason why AAPL is leading the way lower, but cyclically, it has been due to fall anyway.
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stay tuned.... or something.