A second day for the bears

It was a second consecutive day for the equity bears, with the Monday gains now fully negated. The sp'2039 low looks set to be taken out within the next day or two, offering a test of the 200dma in the 2013/15 zone next week. Things really only get interesting on a break under the giant sp' 2K threshold.


sp'weekly7

Summary

*with further declines, the weekly candle has turned from blue to an outright bearish red. There is arguably a trend break.. which would be suggestive of downside to the 2010/00 zone.
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Looking ahead

Thursday will see the usual weekly jobs, intl' trade, and factory orders.

It is notable that since Friday is closed, we'll have some end-week issues... with a viable case of 'rats selling into the long weekend'. 

*Yellen is due to speak, but I don't believe that will be of any importance.
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Finally, a guest on clown finance TV I can respect...

Bernie Lo, CNBC Asia... with...

...Jordon

Goodnight from London