Tuesday, 23 February 2016

2pm update - still kinda tedious

Despite the sp'500 -21pts @ 1923, today remains somewhat tedious. Considering oil is -5%, the market is holding up relatively well. Metals are holding gains, Gold +$14, with Silver +0.6%. VIX is maintaining moderate gains of 7% in the 20.70s.



If somehow the bears can manage to hit the 1905/00 zone... there is threat of a H/S formation. If that is to be deemed a continuation pattern.. then basic upside would be to 1990/2000. Just a thought.

notable weakness...

BAC, daily

As more begin to realise another rate hike is off the menu for a long.... long time. In terms of upside.. best near term case is around $14.50... which would likely equate to sp'2000.