11am update - the bigger bear flag

US equities remain severely lower, with the sp -44pts @ 1999. There are multiple breaks of support on the bigger daily/weekly cycles. First soft target is the sp'1920/00 zone... and that will probably equate to VIX 31/33. Gold is catching a fear bid, +$17, whilst Oil +1.4% on middle eastern tension.


sp'daily5

sp'weekly8b

Summary

*reminder, I'll post the 2016 outlook later this evening... which partly relates to weekly8b chart.
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Indeed... just look at the daily chart... a very ugly start to the year.

The bigger weekly cycle was offering a giant bear flag...and we've broken that today. With other world equity markets clearly on the slide, there can be high confidence in the US bear flag.
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Meanwhile, in London city...

Feels damn cold today... but still.... next to zero chance of snow until late Jan'
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time to cook
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11.20am... Oh lookie...

The first Fed official of the year

First attempt by PRINT HQ to 'calm the market'. lol