Monday, 14 March 2016

10am update - opening weakness

US equities open moderately lower, but clearly, the equity bears remain powerless, with no realistic hope until after the FOMC. Metals are pretty choppy, with Gold cooling from +$10 to u/c. Oil remains weak, -3.4% in the $37s.




*note the weekly MACD (blue bar histogram) cycle, positive cycle for the second week.

Frankly.. little to add... as things really don't get interesting until some econ-data tomorrow morning.

notable weakness... SDRL, daily

With Oil lower by around -3%, energy stocks are under pressure. Indeed, equity bears should look to see WTIC oil remaining under the $40 threshold this week, and across the months ahead.

Sustained action above the 200dma.. in the $6s looks highly improbable, with SDRL on the 'disappear list'.

time for some sun...