Thursday, 24 March 2016

1pm update - moderate weak chop

US equities remain moderately choppy in the sp'2020s, with VIX 15s. USD is +0.1% in the DXY 96.10s. Metals are mixed, Gold +$1, with Silver -0.2%. Oil remains broadly weak, -1.5% in the $38s.


UUP, weekly


*a notable strong week for the USD, with the Euro looking very vulnerable to imploding this summer, but more on that later.

With 3 hours left of the trading week.. price action remains highly inclined to be increasingly subdued, and that will favour the bulls.

There seems fair chance of a bounce to the 2040s next Mon/Tuesday, and would appear to be a very good short level indeed.

notable weakness, BA, daily

The big issue is whether the low of $102 will be taken out, if so... next level is not until 75/74.

Do the math for the Dow/sp'500...  Hmmmm

back at 2pm :)