sp'daily5
Nasdaq, daily
Summary
*the Nasdaq remains especially strong. However, if 4850 is lost... its a fair way down to the rising 200dma in the 4600s.
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So.. today is set to open much like yesterday. The difference is that the hourly equity cycles have a bearish cross, and there is viable downside across the entire day.
Certainly, equity bears should be desperate for a daily close back under the 50dma.
Right now, best downside case looks to be the 200dma... in the sp'2010s, but yes... even that will be difficult to reach... a mere 3% lower.
*awaiting the EIA report (10.30am)... along with the FOMC minutes (2pm).
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notable early strength: TSLA +3.0% @ $209
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Have a good Wednesday.... if you can
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9.42am.. black-fail candles starting to appear on a number of individual stocks.. esp' the momo... TWTR, TSLA