10am update - shaky opening gains

US equities open higher, but any sustained action >sp'1975 looks overly difficult. The Thurs' low of 1938 makes little sense as a key low, renewed weakness to the 1920/00 zone still looks probable. What really matters (for the Monday open) is the style of price action in the closing hour.


sp'60min

sp'weekly1b

Summary

*anyone getting overly bullish needs to go stare at the weekly/monthly charts for a good few hours.

There is nothing to be bullish about.. with the bulls having failed to break a new high, having seen a complete fail of what was a bull flag.
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So... we're higher, but the gains sure look shaky, and highly vulnerable into the weekly close. Long day ahead.... and most should recognise this is one of many rallies that merit shorting.
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time for some sun... back at 11am.