Friday, 6 November 2015

11am update - daily cycles still ticking lower

US equities remain moderately mixed, with the sp' seeing an early low of 2083.. just 2/3pts above core rising trend. For now.. the hourly cycles are threatening renewed upside to the 2120s..  but... the daily MACD cycles are very close to officially turning bearish.




*there are an absolute mountain of key issues to highlight.... not least the USD, metals/oil, and hell, lets not forget the bond market.

TLT -1.5% in the $118s, but I'll have to cover that later... no time right now.

The grander issue is that the mainstream is now adjusting to the notion of higher rates. Ohh, and I realise some out there will still say it won't happen.. and that besides... we're still going to collapse to sp'1500.. or lower next year. Right?

I can only suggest people consider BAC.

It is arguably a powerful signal - once a monthly close >$18... of where the broader market is headed next year.

time to cook