Thursday, 29 October 2015

10am update - opening weakness

US equities open lower, but so far the declines barely rate as moderate. With the USD -0.3% in the DXY 97.50s, metals are weak, Gold -$5. Oil has seen an early reversal, swinging from -1.5% to +1.0%.




Long day ahead... and broadly.... it should result in net daily declines.

As many in the mainstream are starting to finally realise though, equity indexes are set for rather extreme net monthly gains.

Even if we slip a full 2% between now and the weekly close, the equity bulls will manage a rather hyper-bullish close above the monthly 10MA.

notable weakness...

INTC -2.3%... a key leader stock.... leading the way lower.
TWTR -3.1%... as reality sets in again

10.01am.. Pending home sales index , -2.3%  ... lousy number for September.

Indexes weakening...  with VIX +4% in the 15s.