Thursday, 31 October 2013

11am update - bears battling lower

The main indexes are holding moderate declines, after a PMI number that showed the strongest jump in over 30 yrs. Metals remain very weak, with Gold -$18. Equity bears look set to kick the market lower across the next few days, but anything <sp'1730 will be real difficult.



Hourly charts are showing a slow...but consistent decline.

However, considering it is end of the month, there is likely to be some end month chop across the afternoon.

So..right guess..1730s..then low/mid 1800s in November.

11,01am.. remains ironic, red indexes...and red the 13.50s ! Fearless market.

The FB looks floored around the lower bol' /50 day MA...

Upside to the 60s into year end.

11.25am.. indexes seeing a minor up wave, but 1775 looks a secure high now.

momo stocks all jumping, FB, NFLX, all the usual suspects.