sp'60min
Summary
Best guess..a minor skirmish this morning, with the bears managing a further minor wave lower. It is difficult to guess whether yesterdays low of 1740 will be broken late today..or not until early tomorrow.
Certainly, there is a pack of econ-data tomorrow, and that would be a good excuse for the market to sell lower..if only briefly.
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*have you noticed how many (not least the cheer leaders on clown finance TV) are now starting to tout the declining Oil/gasoline prices as a 'green shoot' for the economy into next spring?
The mainstream is absolutely desperate for these equity markets to close the year on a very positive note, although they are right to note US gas prices in the low $3s would certainly help the Christmas retail trade.
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TSLA is bouncing
..but ANY break <160..and door opens to 110/100
11.35am... sp'1651...hmm, bears getting frustrated, as underlying strength continues.
Tricky day though, still risk of a little washout into early Friday, but with the weekly charts pushing higher into November, no point in taking any short trades.
*metals still building gains, Gold +$15. GLD in the 140s would be the natural target, and that is a good 10pts higher!