11am update - the battle continues

It remains a mess in market land, as the bulls are battling to hold yesterday's low of sp'2053. If that fails.. a daily close in the 2045/35 zone will be due.. along with VIX 15s. However, current price action just doesn't suggest the bears are going to manage it.


sp'60min

VIX'60min

Summary

Clearly, its a borderline situation. The bigger daily/weekly cycles are STILL increasingly swinging back toward the equity bears... but actual price action remains just broad churn in the sp'2039/2100 zone.

.. the 11am turn.. would currently bode in favour to the bulls.. not least as the weekend looms.

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notable weakness, CAT, daily

There is nothing pretty in CAT land, the 200dma is set to be tested. Broadly, I'd look for the Jan' low of $55.82 to eventually be broken.
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time to cook