Wednesday, 30 March 2016

3pm update - leaning weak into the close

US equities remain moderately higher, but price momentum still appears to be swinging back toward the equity bears. VIX is choppy, but holding above the earlier low of 13.06. A move into the 14s, whether into the close/tomorrow will offer some provisional clarity.




The hourly 10MA will be around sp'2060 across the closing hour.

Any close in the 2050s would be...useful to those bolding still holding short.

I've been browsing a fair few of my company charts... CAT is a fair example for today...

A new cycle high of $77.25, but the daily black-fail candle bodes in favour of the bears tomorrow. First support is the 72/71 zone.. where the 200dma is lurking.

3.23pm.. Gold -$15....   miners GDX -1.8%.... and that is despite another day lower for the USD, -0.3% in the DXY 94.80s.

As for equities, so much for leaning lower into the close. Annoyingly, with still no sustained downside power.. we're back to sp'2068.....  a mere 4pts shy of the earlier new cycle high.

back at the close