Wednesday, 4 May 2016

12pm update - borderline interesting

US equities remain weak, but still... equity bears can't justifiably get even initially excited until a break under the two soft lows of sp'2039/33... with a close in the 2020s. For now, the market remains relatively close to the recent key high of 2111.. with a VIX that is yet to show any real upside power.




Not much to add.

Next support is around 2040.. with two soft lows of 2039/33 as next line of defence.

notable weakness/reversal... Oil... USO, daily

In theory.. the $10.00 threshold is a valid target in the near term.. and that is a clear 7% lower.

Metals are struggling.. as the USD is slowly clawing upward in the DXY 93s... the related mining stocks are under strong pressure... with the ETF of GDX -4% or so. More on the metals/miners later....

time to see what the cheerleaders are saying on clown finance TV....