With just two trading hours left of the year, the US equity market is seeing a rather fierce battle to keep the sp'500 net positive for 2015. The bigger issue is whether we'll see close aboev or below the monthly 10MA of 2052... right now.. that does look probable.
As attention is somewhat focused on a fiery tall hotel in Dubai (live independent coverage - HERE), the real story remains whether the sp'500 will close above.. or below 2052.
From a pure cyclical perspective, the hourly MACD (blue bar histogram) cycle is ticking upward, as price pressure starts to swing away from the equity bears.
Clearly, the rest of the afternoon is going to see some end week/month/year trades starting to fly through.. so I'd expect price action to get a little more active.
notable weakness, AAPL, -1.7% in the $105s. For the equity bears out there, AAPL is now warning of broader market trouble.. much as INTC did in mid May.
2.38pm... another wave lower.. and we're back under sp'2050.
It sure is getting interesting.
AAPL continues to lead the way lower, -2.1% in the $104s.