11am update - baby bear flag confirmed

Price action remains somewhat messy, but the baby bear flag seen on the hourly equity cycle has already been broken, with the door wide open to the sp'2060/50s. USD is notably holding gains of 0.4% in the DXY 99.40s, and that is keeping pressure on the metals (Gold -$4), and Oil, +0.6%... if somewhat choppy.


sp'60min

UUP, weekly

Summary

*re: UUP, a giant bull flag... and its already breaking upward... a year end close >DXY 100 really doesn't look a bold target.
--

So.. a bit of a messy opening 90 minutes, but price action/structure broadly favours the equity bears into next week.

The sp'2020s remain a realistic target for next week, before resuming higher into the Dec' FOMC.

--
notable weakness: AAPL, -2.5% in the $117s

FCX -4.9%... miners under pressure... as king dollar remains a core problem in commodity land.

TSLA -2.9%,... the loss making car company.... does Mr Musk want to ever turn a profit?
TWTR -2.0%... the momo train wreck remains broadly weak.
--

time to shop... back soon