US equities are seeing renewed weakness, with the morning low of sp'2083 set to be broken this afternoon. Daily MACD cycles continue to swing back toward the bears.. offering a retrace (at min) to the 200dma in the low 2060s.. and almost equally viable.. the 50dma in the 2020s, viable within 4-7 trading days.
So.. a hell of a lot of price chop today.. as the market is battling it out.
Daily charts remain suggestive of a near term retrace.. and I'm still calling 2116 a short term high.
notable weakness... as the USD +1.2% in the DXY 99.20s.
Oil -1.9% in the $44s
Gold -$16, with Silver -1.6%, with the related miners, GDX -3.2%
VIX update from Mr R.
time for tea.