Tuesday, 10 May 2016

11am update - in the gap zone

US equities continue to battle upward, with the sp'500 making it the gap zone of 2077/81. The equity bull maniacs will have reason to get confident on any daily close in the 2080s. Metals are mixed, Gold -$2, whilst Silver +0.8%, with the related miners catching a minor bounce, GDX +0.5%.




No doubt (and understandably) many of the cheerleaders will now be especially bullish, and confident that the coming weeks and months are going to be just fine. After all, despite lousy earnings, and low growth...  things are indeed just fine, yes?

I can only wonder how much of the 'big money' is hitting the sell button this morning.

notable strength.. DIS, daily

..with earnings due at the close. For the bears... need a trend break...  <$102 by the Friday close.

time for an early lunch