A few bits and pieces... to round up the month...
WTIC, Oil, rainbow'2
Gold, monthly'2, fibs
*its been a long week, I really need to keep this short!
The commodity moves are pretty incredible... we have huge deflationary pressures (not least in the EU), and the higher USD is not helping. The notable resilience to that downward pressure are the precious metals.
Equity outlook for February?
Despite the recent weakness, with ECB QE-pomo, I'm still looking for continued broad upside. Yet, the January close was a bearish one, and bodes for further weakness in the immediate term.
A red weekly candle, with a failure to re-take the imporant 10MA. To my own surprise, we also have a bearish monthly close under the giant sp'2000 threshold, and that now opens the door to the sp'1920/00 zone... as especially suggested on the weekly cycle...
Goodnight from London
*the weekend post will be on the world monthly indexes - the most important post of each month!