Friday, 11 March 2016

1pm update - holding significant gains

Price action is increasingly choppy, just under the 200dma of sp'2019, but regardless, we're still set for a fourth consecutive net weekly gain. For the moment, there seems zero reason for equity bears to get involved, not least.. as the weekend is fast approaching.




We're now clearly above the monthly 10ma.. and as I'll incessantly be saying for the rest of the month, equity bears must be seeking at least some degree of cooling into end month.

Right now, a March close <2K is pretty important. Anything <1950 would be a bonus, not least if we're 2030/40s next Wednesday afternoon.

notable weakness: miners, GDX -1.3%... still due a more sig' retrace.. relative to the gains since last December.

back at 2pm