Tuesday, 19 January 2016

1pm update - baby bull flag

The sp'500 breaks a new intra low of 1881.. a full 20pts (1.0%) from the earlier high of 1901. Price structure though is offering a baby bull flag, with renewed upside into the close/early Wednesday. Oil remains a problem for the market, with WTIC Oil -2.0% in the $28s.




Little to add.

Despite the ongoing weakness, we're still due a rally into next week... but clearly, its going to be damn choppy.. not least as Oil remains broadly weak.
notable weakness...

CHK -10% in the $3.10s
FCX -4.7% inthe $4.10s
TWTR -5.4% in the $16.90s

back at 2pm