11am update - minor gains turn to minor declines

US equities have reverted to some weak chop, and no doubt, what selling there is, is being largely negated by another $3-4bn of Yellen Bux. Broad upside into next week is still expected, but we are indeed getting close to the viable ceiling.


sp'60min

Summary

Well, what can I say..except 'don't get lost in the minor chop'.

There isn't really any downside pressure, and I sure can't take this seriously until we break <1834, and that sure doesn't look viable for another few weeks.
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Notable weakness: RIG, back <$40...

Sure looks ugly on the bigger weekly chart, having fallen from the mid 50s. More on RIG later..on the fair value page.

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 stay tuned!


11.30am... So...minor declines continue...but thats just it...its MINOR. There is simply NO significant downside pressure.