Friday, 12 April 2013

Closing Brief

The equity market held together very well considering the commodity carnage today. The precious metals and Oil market saw very sharp declines of around 5 and 3% respectively. Hourly charts are suggestive of a sub'2 bounce complete..with a gap lower at the Monday open.



Well, its been a long week, so I'll keep the closing updates this evening..brief.

Market failed to get the close in the 1570s I had hoped for.

Yet, we have the Oil market smashed, ...Dr Copper is weak, and the precious metals have collapsed through support. The deflationary doomers have some serious stuff to think about this weekend.

Considering everything..I'd be surprised if we don't start next week at least opening 'somewhat' lower.

*I hold USO (short) into next week.

Bits and pieces to conclude the week, across the evening.

Have a good weekend