Thursday, 29 October 2015

1pm update - the micro battle continues

US equities remain a touch weak, as some of the bull maniacs still believe we'll see further highs before a retrace begins. Price action is extremely tight, with the snap level currently at soft rising support @ sp'2075. VIX remains holding gains of almost 5%.. around 15. The 16s look due.




*brief highlight of the daily charts...

Market looks tired, and with the FOMC and key GDP data out of the way.... we're set to see a break lower.

Its just a case of when the first snap occurs.

notable weakness: TWTR -5.3% in the $29s... ugly price action...

GDX -3.9%.. as the metals continue to cool

*metals are increasingly weak, Gold -$8, with Silver -2.6%.. but more on those... in the next hour.