Thursday, 10 March 2016

3pm update - it certainly isn't dull

US equities are making a play to turn positive, sp -2pts @ 1986, having clawed from a low of 1969. USD remains notably weak, -1.1% in the DXY 96.00s. Metals are holding sig' gains, Gold +$18, with Silver +1.9%. Oil remains broadly weak, -1.3% in the $37s.




For the wave counters out there, it could be argued this afternoon's bounce from 1969 is a sub'2/B bounce.. with renewed downside into the close and early Friday.

Broadly, I still expect another push higher into the FOMC, but we now have two very notable highs of sp'2009 and 2005.

A failure to break and hold above the 200dma next week would surely seal the bulls fate for the spring and into the summer.

notable weakness... TWTR, daily

Ugly ugly ugly      ... and from how I've experienced Twitter, 90/95% of new users are SPAM-bots. Twitter is turning into one giant spam machine that is increasingly annoying what few real people actually use it.


3.21pm... update from Riley


sp -2pts... hmmm

3.30pm.. +2pts... with the VIX turning negative.  

VIX just never showed any sig' upside power today.. which really was unusual, considering the size of the reversal.