3pm update - baby bear flag

US equities remain moderately weak, with the sp'500 so far unable to clear the hourly 10MA (1992). Price structure is offering a baby bear flag, with threat of renewed downside to the 1975/65 zone. Regardless of any Wednesday weakness, further upside >2009 still looks due.


sp'60min

Summary

little to add.

Regardless of any near term downside.. still seeking one more push upward

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notable weakness... miners, GDX, -3.7%... the 18/17s look due by middle of next week.
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3.08pm.. baby bull flag on the VIX.

60min

So.. the setup is weak into the close.. and early tomorrow.
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Again, the next EIA report will be important... the bulls really need to see the market cope with another lousy inventory number... and push oil back into the $38/40 zone.