Friday, 9 October 2015

11am update - underlying upward pressure

The morning has seen some minor chop, but it should be clear... each little down cycle is being rather quickly negated. The bigger weekly/monthly cycles remain bullish to at least the sp'2040/60 zone. With the USD -0.3% in the DXY 94.90s, Gold is being pressured upward by $17 to the $1150s.


GLD, daily


This time last week the market had floored at sp'1893... and we're now 123pts (6.1%) higher... pretty wild huh?

As it is.. another 2% looks pretty easy given a week or two.

notable strength: AAPL +2% in the $111s.

airlines, UAL +7%, DAL, +2.8%
time for lunch