Closing Brief

Another quiet day, at what remains the worlds most rigged and twisted legal casino.

We appear to be setting up tomorrow with some bullish pennants, a move to a new high of 1410/15 seems viable.

The closing hourly charts


IWM

Dow

SP

Summary

Another relatively flat day. I suppose it could be said we're forming a nice flat top - or even the head of a H/S formation (see daily charts earlier), and that we'll rollover in the next few days  - at least to the low 1370s.

Regardless, no declines can be taken seriously until we break into the 1340s. Until then....it remains a series of higher highs..and higher lows.

A little more later.

3pm update - Closing hour tedium

There would appear no reason why this final hour will be any different than any of the others. The VIX shows a complete lack of volatility in the immediate term.


sp'60min, rainbow

sp,daily5b

Summary

What else needs to be said, other than..we remains trading in a micro-range.

The daily MACD cycle is showing signs of levelling out. Not a bad level to short at, with simple stops around 1405/10/23.

A little more after the close...

2pm update - latter day weakness?

More nothing. Smaller cycles offer opportunity to close lower, but really, there is ZERO momentum to the downside still.


sp'60min, rainbow

Summary

So dull again today.
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