Monday, 4 April 2016

12pm update - still.... minor chop

US equities remain in minor chop mode, with the sp -5pts @ 2067. Whilst the USD is broadly flat in the DXY 94s, the metals are moderately weak, Gold -$4, with Silver -0.4%. Oil is under pressure, swinging from gains of almost 1% to -0.6%.


Dow, daily


Little to add... on what is a broadly subdued day.

Cyclically, a retrace is due, but equity bears need a clear break of the rising trend, which at the close of today will be around sp'2055. Considering the current style of price action, sub 2055 looks out of range today.

notable weakness, Ford, daily

Remaining broadly ugly, and considering how close to new index highs we are... Ford looks especially vulnerable.

time for lunch