Tuesday, 20 October 2015

10am update - opening weakness

US equities open a little lower, but once again, it remains the case that the equity bears look entirely unable to build any sustained and significant downside move. Commodities are having a better day, Gold +$7, whilst Oil has turned fractionally positive.



There is little to expect of today. Mostly chop.... but with the usual underlying upward pressure, and that pressure INCREASES with each day as the weekly cycles turn more bullish.

Next big issue is the Thursday ECB meeting. If Draghi threatens more QE... we'll see sp'2060s.. and it won't likely stop.

For now, it should be clear.. this is no market to be short.

notable strength:

DIS, daily

Not surprisingly.. Disney is benefiting from the increasing Star Wars hysteria.... only another two months to go. By then.. DIS at new highs.. along with the broader market?  

.... probably.