Friday, 6 November 2015

2pm update - the battle continues

US equities remain moderately weak, with the sp -6pts @ 2093. There remains threat of another wave lower into the weekly close. Equity bears should be seeking a break <2079. USD is holding powerful gains of 1.3% in the DXY 99.30s... and that is not helping the precious metals/Oil.




A third consecutive daily net daily declines looks due for the sp'500... and yes... some of the other indexes might yet close positive, notably the R2K and Nasdaq'

As things are, we're set for the sixth consecutive net weekly gain.. although any close in the 2085/80 zone would at least offer a spiky top candle this week, which would be suggestive of downside across the next two weeks.

Q. Anyone wondering if today's jobs data will be revised significantly lower, or is this actual good news?

Metals remain very weak, Gold -$13, with Silver -1.5%. Related miners, GDX -3.3%... horrible week.

Similarly, Oil ending the week badly, -1.9% in the $44s,

back at 3pm