Friday, 6 November 2015

10am update - the USD juggernaut

Whilst equities trade moderately lower, and remain very vulnerable... the real story remains the USD, +1.3% in the DXY 99.20s. The implications for the giant intl' corps, precious metals.. and Oil.. should be absolutely clear. Not surprisingly, financials are soaring.. on the realisation that rates are set to start rising.

UUP, daily



A pretty incredible early morning.. as the USD explodes into the DXY 99s, and threatening a monthly close in the DXY 100s. The mid/long term implications of another huge wave higher should be clear.

So.. equities are VERY mixed, and financials explode higher, but energy/miners, and heavy industrials suffer.

Broadly, the market is STILL due a retrace... with a natural basic target of the 200dma of sp'2063

Metals are imploding...

GLD, daily

Gold loses the key $1100 threshold. $1000 looks due before year end. Again.. implications for the related mining stocks are clear.

notable strength: DIS

Earnings were fine... stock is headed far far higher.... next year. Near term.. still vulnerable.. with the main market... not least due to currency issues.

BAC... testing the $18 threshold.

Target by late spring/early summer 2016..... $22/23.....   do the math.. and extrapolate to the sp'500.

time to shop.... back soon

10.35am... back...

so.. we've sp'2083... a little bounce.... but remaining vulnerable as the daily cycles continue to swing back toward the equity bears.

Clearly, currency changes are going to spook some... would impact the Dow most (in theory).