Tuesday, 20 October 2015

1pm update - nothing of significance

US equities are moderately lower, but having broken another cycle higher high of sp'2039, the equity bulls have little to prove. A sustained break under the hourly lower bollinger of 2020 looks overly difficult, and now its a case of seeing how the US and EU markets react to the Thursday ECB accouncement/press conf'.



So.. more chop.. as we've largely had since last Friday.. but broadly.. the trend remains UP.

ZERO reason for the market not to be able to battle to the 200dma by next Wednesday... and no... I don't expect a rate hike then. Hell, Draghi might threaten NIRP this Thursday... although for the macro-bulls... that can't be seen as a sign of strength.

notable weakness..

NFLX -2.6% in the $98s
TSLA -4.4%...

Today was better in London city...

back at 2pm