3pm update - net daily declines

Most US equity indexes are set for the second net daily decline of the past 4 trading days. Price action remains relatively subdued, but will likely become increasingly dynamic across the rest of the week. The daily/weekly cycles increasingly favour the equity bears.


sp'daily3

sp'weekly2

Summary

... a basic retrace to the sp'2040s looks very realistic in the near term.

Other than that.. we have a notable blue candle on the weekly 'rainbow' chart.

.. for now.. there is little else to add.
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notable weakness....

FCX -4%
RIG/SDRL, both lower by -5% or so.
NFLX -2.9%

strength: DIS, +0.7% in the $104s.

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back at the close.