Thursday, 14 January 2016

2pm update - equities building gains

Unlike yesterday, price action is far stronger, with a daily close likely >sp'1910 - which considering the opening low of 1878, is rather impressive. A continued rally across most of next week looks due, to the 1956/80 zone, with VIX set to cool under the key 20 threshold. Gold is -$21 as market fears subside... for a brief while.


GLD, daily


*I've just gone through and updated my primary list of individual stock charts, and almost every single one is offering a POWERFUL spike floor. Although it is notable that MANY stocks have broken below their respective Aug'24th low.

There is now increased confidence that we have a short term floor, and now the only issue is whether the rally maxes out next week.. or in FOMC week.

The broadly picture remains absolutely bearish.

notable reversals...

TSLA, TWTR, AA, APA, AAPL... its a long list.

weakness, miners, the ETF of GDX -4.2%, as the precious metals lose the fear-bid.