Friday, 29 April 2016

10am update - so many charts, not enough time

US equities open moderately weak, with the sp' breaking under rising trend/support into the 2060s. Meanwhile, there are marginal breaks of trend in the two leaders - Trans/R2K. With the USD -0.6% in the DXY 93s, the metals are making a play to break above Gold $1300 and Silver $18s.

Trans, daily

R2K, daily


*Chicago PMI: 50.4... borderline recessionary, and it should at least concern the bull maniacs that the US economy is flat lining.

There are an absolute truck load of interesting individual movers out there right now....  I will try to highlight as many as I can.... lets start with...

DIS, daily

A poke above key resistance.. but its clearly rolling over.

STX, daily

Earnings were lousy... the statement was blaming lacking of demand. Yeah.. global economic weakness.

.. but hey.. Buffett said earnings are [broadly] fine... so I guess STX should really be up.

stay tuned.

10.01am  Consumer sentiment: 89.0....     not great....

A break into the sp'2050s before the typical 11am turn would be useful... as at least it'd break another soft support zone.

10.08am.. browsing some of the monthly charts for AAPL, DIS, NFLX, .... its a long long list.... its looks borderline horrific.

The May/June candles could be scary bearish!