Wednesday, 14 October 2015

10an update - opening chop

US equities open with some minor chop, with the equity bears unable to push the sp'500 under the psy' level of 2K. USD is seeing some notable weakness, -0.3% in the DXY 94.49s. Gold is +$7. Oil has seen an opening reversal, currently back to u/c.




*Retail sales came in lousy, +0.1% m/m... although not apocalyptic.

So.. opening chop.. and equity bears are not showing any sign they will be able to muster any downside follow through to the 1990/80s.

Broadly..the 2030/40s still look viable by this Friday close... with a grander target of 2040/60 zone by the next FOMC of Oct'28th.

NFLX earnings at the close will be one to watch.

notable strength: DAL,

The break into the $48/ rather significant.. and is one stock that is warning the market won't stop at sp'2040/60.

**despite what the cheerleaders on clown finance TV keep saying.. there is NO EIA oil report today. Due to Columbus day, it will appear instead tomorrow at 11am.

yours.. .long Oil.