Friday, 31 July 2015

11am update - moderate gains

US equity indexes are moderately higher, with particular strength in the second market leader - R2K, +0.9%, higher for the fourth consecutive day. Metals are cooling from the earlier 'USD smack down' inspired highs, Gold +$5, with Silver +0.7%. Oil remains notably weak, -1.4% in the $47s.

R2K, daily



Little to add.

The opening reversal has itself reversed.. and here we are with gains across all the main indexes.. if minor.

A pretty choppy morning.. with notably weakness in energy/resource stocks.

I am still seeking weakness... but for now... we're still awaiting the hourly equity cycles to get a bearish MACD cross. 

time for an early lunch