Monday, 9 November 2015

2pm update - remaining weak

US equities remain significantly lower, with another minor down wave due before the close. A test of the 200dma (sp'2063) looks due tomorrow, opening the door to 2050/40s by the Friday close. A natural retrace to the 2020s looks more viable early next week.




Its getting a little tiresome.

Browsing around... people getting overly excited either about the current net daily declines.. or the fact we've bounced from 2068 to 2075. Its all minor noise, and many seem lost amongst it.

The broader picture is all that really matters, and the US market put in a conclusive statement with the Oct' close. But hey.. I realise some don't want to hear that.

notable weakness

BABA, -2.6%.. follow through from the new Jim Chanos short
FCX -3.3%.. as commodities remain under broad pressure.. as king dollar threatens >DXY 100
TWTR -4.6%... momo chasers somewhat routed today.

strength: GDX +0.5%.. as Gold holds minor gains of $2. Broadly weak though.