sp'weekly8
Summary
*most notable...the weekly candle has turned blue..and even if we hold the 1860s this Friday, it would still make for a provisional warning of trouble for next week.
--
Regardless of whether you are long, short..or on the sidelines, the 1860s are clearly important.
Yellen..and the FOMC minutes are due tomorrow...and if Mr Market doesn't much like either of those, then...it will likely be bye bye 1860s.
As it is...my best guess is that it WILL hold..but then..I'm currently underwater on the long side, so..what do I know?
-
Even AAPL is red..-0.5%..the humanity!
-
Dow, daily
Clear break of rising trend.. with the 200 day a further 450pts or so lower.
2.10pm.. Early sign of an afternoon turn...sp'1868/70 zone...but then..there was a similar sign in the morning..and that failed.
I'm still guessing it will HOLD together..despite today's weakness.
A fair few yesterday were indeed seeking the 1870/65 zone today..so..congrats to those day-trading shorts... I wonder how many are cashing out right now.
2.26pm.. hourly MACD cycle looks about done...so...that is probably it.
I remain split on today...we have a few breaks..dow 50 day...with break of trend. The R2K looks a real mess...but the bigger trends are STILL holding.
If Mr Market is just trying to confuse the max number of traders..it is doing a fine job today!