Market stressed ahead of the fed

It was a very bearish end to the week, with a net weekly decline for the sp'500 of -79pts (3.8%) at 2012. The 'old leader' - Transports, imploded by -5.4% to 7524. Meanwhile, WTIC Oil saw a net weekly decline of -$4.52 (11.3%) @ $35.62, the lowest level since Feb'2009.


sp'weekly1b

Trans, weekly

WTIC Oil, weekly2

Summary

sp'500 - price structure could be a giant bull flag... if so... new historic highs.. no later than mid January.

Transports - giant bear flag, confirmed, a fierce net weekly decline, now within range of the Aug' low of 7452.

WTIC Oil - the sixth consecutive red 'rainbow' candle... ZERO sign of a floor, as the supply issue remains completely unresolved.
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Goodnight from London
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*the weekend post will be on the US monthly indexes