Thursday, 15 October 2015

10am update - opening gains

US equity indexes open moderately higher, back above the psy' level of sp'2K. The smaller hourly cycle is offering upside across the day. With the USD +0.6% in the DXY 94.50s, the metals are under pressure, Gold -$7, with Silver -0.5%. Oil is weak, -1.6%.. ahead of the latest EIA report (due 11am).



Clearly, market is still in process of battling to cope with an increasing amount of earnings.. which are tending to lean on the 'miss' side.

Frankly, equity bulls should be content with any close >sp'2000...  2010s would be a bonus, considering the current price action.

notable weakness

NFLX, daily

A sharp opening drop... initial support is the psy' level of $100, and then key rising support in the 95/93 zone.