US equities are moderately lower, with underlying price momentum continuing to swing back toward the equity bears. At the current rate, the daily MACD cycle will see a bearish cross this Friday, and that will offer a weekly close in the sp'2060/50s.. along with VIX 18/20.
re: metals.. Day'6 down for Gold/Silver... as key support was broken yesterday morning.
Clearly, continuing media/trader chatter of Dec' FOMC rate hike is not helping.
As for the broader equity market.. it would seem we have a cycle high of sp'2116.
A retrace to the 200dma.. and probably the 50dma look due... although the latter is out of range until late next week... at which point we could be somewhere close to 2020.
From there... UP.
notable weakness, Oil, -3.2%, as once again, the market is reminded that the supply issue is NOT resolved.
Fed official Dudley is due to hold a press conf' at 2.30pm on 'economic outcomes'.. although I'm entirely unaware if clown finance TV will be covering it.
Vice chair Fischer is set to speak AH.. and Mr Market will certainly be listening to that.
back at 3pm