Thursday, 28 April 2016

11am update - garbage market

US equities having broadly recovered the opening moderate declines... with the sp' already making a play to break back into the 2100s. VIX has naturally turned fractionally lower, into the mid 13s. Metals are notably strong, Gold +$11, with Silver +0.7%.




*it the typical turn time of 11am.... but still... after this mornings opening 90mins, I'm inclined to dismiss anything today.

Without question, this is one of the lamest mornings for those in bear land in a very long time.

Despite Japan getting trashed, and weak US growth data, the market is still able to just shake it off.

Price structure remains a bear flag... but even if we roll lower to the 2060s late tomorrow/early next week, it will merely offer another higher low (from 2039).

I can NOT take any of this seriously unless we break under the two soft lows of 2039/33.. with a daily close in the 2020s.

notable weakness... KMI,daily

Kinder remains broadly stuck... vulnerable to the 16/15s...  negated on any move into the 19s.

time to shop... back soon