Friday, 22 November 2013

2pm update - battling to hold the 1800s

The main indexes are battling hard to hold moderate gains, with a viable close in the sp'1800s. Regardless of the closing level, broader outlook is bullish across next week. Metals remain weak, Gold +$1, Silver -10 cents (-0.5%), with further declines likely next week.

sp'60min (with metals)


*again, I'll note a chart, which is how I often follow a few things at the same time.

Indexes are certainly toppy in terms of the hourly cycle, but with a lack of downside power, we'll more likely just trundle around into the close.

Metals are still holding within their starkly bearish near term down trend. There is no reason why they won't see further declines next week.and the bigger weekly/monthly  trends absolutely support that outlook.

TSLA remains weak...

The target zone of 110/100... almost there. Any daily closes under the 200 day MA..and I'll then also look for $60 - as Carboni has called for.

2.32pm.. new highs in the sp'..along with the Dow, R2K