Monday, 7 March 2016

3pm update - moderate bearish hysteria

With a swing from sp'2006 to 1989, some of the equity bears will no doubt be a little excited... but rising support - from the sp'1810 low, remains intact. It would seem the 2020s are still due, with the 2030/40s viable on FOMC day (March 16th).



Little to add, on what remains a subdued day.. and Tuesday will likely be much the same.

Clearly, the main upward trend remains intact, and with the ECB a full 2 trading days away, bears still at risk of first seeing 2020s.

Even then, I remain very cautious about getting involved on the short side ahead of FOMC.

notable strength: miners, GDX +2.7%, as Gold has re-built gains of $7.

If you can guess the movie... the prize is that of being right

back at the close