Friday, 8 January 2016

10am update - shaky opening gains

US equities open higher, but any sustained action >sp'1975 looks overly difficult. The Thurs' low of 1938 makes little sense as a key low, renewed weakness to the 1920/00 zone still looks probable. What really matters (for the Monday open) is the style of price action in the closing hour.




*anyone getting overly bullish needs to go stare at the weekly/monthly charts for a good few hours.

There is nothing to be bullish about.. with the bulls having failed to break a new high, having seen a complete fail of what was a bull flag.

So... we're higher, but the gains sure look shaky, and highly vulnerable into the weekly close. Long day ahead.... and most should recognise this is one of many rallies that merit shorting.

time for some sun... back at 11am.