3pm update - the threat is against the bears

Despite the current equity weakness, much like last Thursday, price structure is more a problem for the bears.. than the bulls. Soft declining trend/resistance was broken above in the 2pm hour, a daily close >2065 (notably above the 200dma) should be enough to calm anyone currently long.


sp'60min

sp'daily5

Summary

Sure... it has been a day for the bears... coming pretty close to negating all of last Friday's gains, but the hourly candles don't favour the bears tomorrow.

All that is missing is for Oil to start climbing. There is an API report AH, with the EIA tomorrow morning at 10.30am.

First obvious upside target will be the $40 threshold.. which is around 6% higher.
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notable strength.... momo stocks (did someone hit the buy MOMO button this afternoon?

FB +1%
NFLX +2%
TWTR +2%

.. all the above stocks were significantly lower at the open.
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back at the close