Monday 16 May 2016

3pm update - market sharks

US equities continue to battle upward, with the sp' breaking into the 2070s. As things are, further strength to the 2085/90 zone is viable... but that would arguably complete what is a big bear flag that stretches back to the May 6th low of 2039.


sp60min


Summary

Little to add.

2111 >2039
2039>2085/90.. with a viable next decline to the 200dma in the 2010s.

In any case, the bigger issue is that the 2100s are out of range.

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notable strength, AAPL, daily


Based on the current candle... the $97s look due, with a ceiling of 100/103. Broadly, the stock remains broken.
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As for the sharks..

If you're already a little tired of what remains a shark infested market, instead of the cheerleaders on clown finance TV, watch the following in this closing hour...



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back at the close