3pm update - chop into the close

US equities look set for continued chop into the close, having lost early morning gains (intra high sp'2018)... swinging to a new cycle low of 1982. Equity bears have had plenty of opportunity to exit, there can be no excuses after the Yellen opens her mouth this Wednesday afternoon.


sp'60min

Summary

Interesting day.. and its pleasing to have some decent price action to speak of.
--

Underlying MACD (blue bar histogram) on the hourly cycle.. ticking higher.. a bullish cross is very viable Tuesday morning.. which will open up 2030/40 by the quad-opex close.

Personally, I'd be very surprised if we take out today's low of 1982.

-
Notable strength: DE, 1.6%