Friday 26 December 2014

2pm update - afternoon chop

US equities remain holding moderate gains... the rally @ day'7,  with new historic highs in the Sp'500, Dow, and today... the R2K. Metals are holding gains, Gold +$20, with Silver +2.3%. Energy remains very weak, Nat' gas -1.4%, with Oil -1.3%


R2K, daily


Summary

Not surprisingly, price action remains one of low vol', and with it being a holiday period, underlying momentum remains to the upside.

The sp'2100s are due...  monthly/weekly cycles are offering 2035/40 by mid Jan.

Notable strength: FCX +3%... although it remains highly vulnerable.. with Copper still set for the low $2s
--

back at 3pm.