Wednesday, 11 November 2015

3pm update - leaning weak into the close

US equities remain choppy, but are increasingly vulnerable, as price structure remains an extremely well defined bear flag. A test.. and break of the 200dma (sp'2063) looks due tomorrow, along with VIX 18/19s. Metals remain weak, Gold -$3, with Silver -0.7%. Oil is sig' lower by -2.5% in the $42s.




... tiresome day... too much cloud.. too little sun.. and price action... just a little tedious.

Tomorrow should be much better.. at least from a bearish perspective.

A close of 2073 or less would be provisional break of the flag... and offer a good 1-1.5% lower tomorrow. On what reason? Cyclical.

notable weakness across the energy sector.... CHK, CNX, RIG, SDRL.

back at the close.