US equities are holding moderate gains, but look set for weakness into the close. Price structure is a near perfect bear flag, and equity bears should be seeking a break under 1955 to confirm a new way down is underway. Primary downside target remains 1940/35.
sp'60min
Summary
Well... 15/5min cycles are PRIME for breaking lower into the close.
Lets see how many of the rats want to exit into the close.
-
3.05pm... early warning sign... rolling over.... 1956
3.19pm.. micro chop...but the setup is there... we're due to fall from here...although downside is a mere 1%...not much more than that.
-
3.25pm.. a micro double top at 1958 ?
Regardless, we are due to fall....
-
notable strength: FB +2.5%
3.30pm... I see a double top....... invalid if 1959 ..
come on bears..where are you?
3.34pm.. they are selling the 1958s
.. 1959... fail. oh well.
-
3.39pm... and the short stops are getting hit... 1960..... VIX -5.9%...
3.46pm sp'1960... and just no downside pressure, but price structure remains a VERY clear bear flag.
3.52pm... so...still a bear flag.. and I'll be seeking sp'500 to lose 20/25pts in the near term.. by the Friday close.
