3pm update - temporary stall

US equities remain broadly weak, with the sp'500 currently still stuck in the 1920s.. along with VIX 20s. At best, equity bears might manage the 1905/00 zone - if the market is upset at the next pair of oil inventory reports, but regardless... the 1950/60s still look a rather easy target.


sp'daily1

VIX'daily1

Summary

*yes.. there is that gap around sp'2040... but hell, that looks damn difficult.
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One down day does not breaketh the trend, right?

The recent high of sp'1946 makes little sense as a key high, especially when seen on the bigger daily/weekly cycles.

This market still looks set for further upside, before a key high in first half of March.
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back at the close

2pm update - still kinda tedious

Despite the sp'500 -21pts @ 1923, today remains somewhat tedious. Considering oil is -5%, the market is holding up relatively well. Metals are holding gains, Gold +$14, with Silver +0.6%. VIX is maintaining moderate gains of 7% in the 20.70s.


sp'daily5

Summary

If somehow the bears can manage to hit the 1905/00 zone... there is threat of a H/S formation. If that is to be deemed a continuation pattern.. then basic upside would be to 1990/2000. Just a thought.

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notable weakness...

BAC, daily

As more begin to realise another rate hike is off the menu for a long.... long time. In terms of upside.. best near term case is around $14.50... which would likely equate to sp'2000.

1pm update - such a great name

US equities remain broadly weak, but as the morning concerns about Oil begin to fade from the mind of Mr Market... there will be increasing threat of a late day recovery. The sp'1950/60s still look due in the near term, and that will cool the VIX back to the 19/18s.


sp'60min

VIX'60min

Summary

Little to add.

Clearly, this morning's declines are largely a result of renewed weakness in Oil.. which itself is -4/5%.. as a result of renewed whining and bitching amongst some member of what remains an effectively dissolved OPEC.

Renewed upside still looks due.. at least to 1950/60s.

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Meanwhile...

Such a great name for someone within a doomed bank. Ms. Short would probably do well to start applying for a job at a fast food restaurant before DB implodes.

*as for CMG, having already hit initial target of the 450/400 zone, next grand downside target is $250.. but I realise that will sound like crazy talk right now.
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ohh lookie...

Another one... this Ms. Short was touting tech stocks. Maybe she'll appear again if Nasdaq comp' 4K or less by early summer?
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back at 2pm