Tuesday 16 December 2014

12pm update - pushing higher

US equities have put in a key reversal, swinging from sp'1976 to 2016. Bullish engulfing candles are starting to appear on some of the daily index charts. First upside target is sp'2025. Metals remain choppy, but well below the opening levels, Gold +$7. Oil has reversed... +1.8%


sp'daily5


GLD, daily


Summary

Another very dynamic day in market land.

No doubt, many bears who are still holding short, are getting real annoyed about. With the FOMC announcement.

Action in the metals is interesting, Gold - already having turned red... should see renewed weakness into the close... but more so.. post-Yellen.

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VIX update from Mr P.


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time for...tea :)