Tuesday, 5 January 2016

3pm update - out of range

US equities remain in moderate chop mode, but clearly leaning on the upward side into early Wednesday. For the equity bull manaics, it remains a very frustrating market, as price action above sp'2080 looks out of range. Oil continues to decline, -2.7% in the $35s



*We've a bullish MACD cross on the hourly cycle.. and that looks set to remain the case into late tomorrow morning.

Indeed, I will be seeking the market to max out by 11am tomorrow.

Other than that... relatively quiet out there.. although there are certainly some dynamic individual movers...

*Here is the AAPL chart... with a fib'.... relating to DIS in the past hour.

If you start from the 2009 low.. it offers $85... which is a fair way below the current $103s.

Out of range...

I am guessing though, that unlike Sloth, the bull maniacs will not be strong enough to rip the chains from the wall and break upward.

back at the close