Good morning. US equity indexes are moderately higher, sp +7pts , we're set to open at 2047. USD continues to claw upward, +0.1% in the DXY 95.30s. Metals are trying to bounce, Gold +$1, with Silver +0.4%. Oil is choppy, -0.2% in the $48s.
So.. overnight gains.. but nothing remotely significant.
Underlying price momentum is increasingly swinging in favour to the equity bears. A weekly close in the sp'2010s remains viable.
Pushing against that is the fact that its opex. and that generally favours the equity bulls... at least to briefly stall any downward trend.
So... the sp'2010s are more viable next week than today. In any case... it shouldn't much matter to those short with a stop >2080.
*as someone asked last evening about 'max pain'.... for the SPY it is 206.... aka' sp'2060. That won't be easy for the bull maniacs to achieve today... as there is declining resistance of 2043 by the close.
Update from Mr C.
A good overview of Oscar's mid term outlook.
Japan: +0.5% @ 16736
China: +0.7% @ 2825
Germany: currently +0.8% @ 9877
Most Asia/EU markets ending the week on a positive note, but they are all holding within broad downward trends from spring/summer 2015.
Have a good Friday