Will the 2075 high hold?

After some early minor chop, US equities pushed higher across the day, with the sp' +21pts @ 2066. Despite the gain, price structure is offering a bearish flag, and if correct, the 2020/15 zone - along with VIX 18s, should be hit rather quickly.


sp'weekly1b

sp'monthly1b

Summary

re: weekly: a viable mid term high of sp'2075... a mere 6pts below the late Dec' high of 2081.

re: monthly: Equity bears really need to push for an April close back under the 10MA, currently @ 2019.
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Looking ahead

Thursday will see the weekly jobs, and consumer credit data (3pm).

**After the Thursday close @ 5.30pm EST, the Yellen will be appearing with no less than three ex-CEOS of PRINT central - the Bernanke, Greenspan, and Volcker. I'm not aware if that will garner live coverage on CNBC.. or more likely.. Bloomberg.
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The series of marginally lower highs

2134, 2132, 2116, 2104, 2081... and the most recent... 2075

It will probably be some weeks before we can have high confidence that 2075 is just another in a series of marginally lower highs that stretch back to the May'2015 high.

Right now, its still looking okay for the equity bears, but as ever... one day at a time.

Goodnight from London