Monday, 23 March 2015

3pm update - tedious Monday

Market looks set for minor chop into the close.. on what has been a particularly quiet start to the week. There remains notable significant weakness of -1.6% in the Transports. Metals are holding minor gains, Gold +$6, as the USD continues to slip away from the giant DXY 100 threshold.


GLD, daily


*considering the recent weakness in the USD, the Gold bugs should be concerned that the precious metals are not showing any consistently broad strength... at least yet. I can't take any of the recent gains seriously, unless we see a few weekly closes in the GLD 120s.

Little to add.. on what is a quiet day.

If Mr Market likes the CPI data tomorrow, then sp'2120s remain very viable... along with Dow 18200s.

notable gains: AAPL, +1.4% in the 127s...  more on that one... after the close.

weakness: railroads... CSX -3.8%.... concerns over weak oil prices