Monday, 4 January 2016

1pm update - vain attempt to rally

US equities are seeing another attempt to rally, but the damage has been done, with multiple aspects of support already decisively broken. Metals are holding sig' gains, Gold +$15. Oil has seen a strong swing to the downside, currently -0.7% in the $36s.




*the downside reversal in Oil sure isn't helping the market mood.

So... a morning low of sp'1989, with an open gap around 2040, although that looks out of range in the near term.

VIX is holding almost all of the gains, +21% in the 22s.  VIX sure isn't suggestive equities have seen a multi-day low.

notable weakness... TSLA -7.4% in the $222s

FCX -5% in the $6.40s..    Freeport would be one of my top 5 names on the 'implosion list' this spring/summer.

back at 2pm