Monday, 2 November 2015

2pm update - the two leaders are leading

US equities are still clawing upward.. with a new cycle high of sp'2096. The two leaders - Trans/R2K, are leading the way higher, by 1.3% and 1.6% respectively. Oil, -0.7% is no doubt particularly helping the Transports.

Trans, daily

R2K, daily


For now... there is zero sign of a turn... not least reflected in the two leading indexes.

Despite all that... lower levels still look probable... but considering current price action... no earlier than Wednesday.

notable strength...

Financials: BAC, 1.6% in the $17s.. with renewed hope that the Fed will raise rates in Dec'.

DIS, +1.2% in the $115s.. as the Star Wars hysteria builds... with earnings at the Thursday close.

back at 3pm