Monday, 9 November 2015

1pm update - broadly weak

Regardless of any bounces, there is a clear short term high of sp'2116, with a viable target of the 2020s within 4-6 trading days. Oil is not helping the main market, -1.8% in the $43s. Metals are very mixed, Gold +$2, whilst Silver continues to implode, -2.0% in the $14.40s.


SLV, weekly


*precious metals look headed broadly lower into year end, not least if rates are hiked... and with a stronger USD.

So.. a little bounce from the morning low of sp'2068 to 2075.

The 200dma is within easy range tomorrow. Things only get interesting on a Tuesday break into the 2050s.

notable weakness

AA. -6.0%... one of the worse performers across the last year.
BAC -1.3%.. as the powerful rate-hope gains see a natural retrace.
TSLA -3%
TWTR -4.4%... no momo chasers today.

strength: APA, +11%..on takeover chatter.