Wednesday, 14 October 2015

3pm update - weakness into the close

US equity indexes look set to close on the weaker side. Regardless of the exact close, renewed upside still looks due.. at least to the sp'2030/40s. Metals are set to close with sig' gains, Gold +$18, with Silver +1.7%. Oil remains seeing minor chop in the $46s.. ahead of next pair of inventory reports.




*Oil remains battling to break out of the down trend, with the API report due AH, and the EIA report due tomorrow at 11am. Lately though, Oil seems to cope with any adverse net weekly inventory gains rather well.

As it is, the hourly cycle is set to turn bullish in 1-3 trading hours.

Little to add.. on what has been another not entirely exciting day. Even the WMT drama didn't really cause much more of a localised market quake.

It is notable that INTC which opened sharply lower to $30.85, is set to close net higher in the mid $32s.

*NFLX earnings at the close...  and that will be something to watch.

back at the close.