Wednesday, 22 January 2014

2pm update - afternoon chop

The minor chop - that has been the case for over three trading weeks, continues. Yet...the underlying strength is there, and we have seen new historic highs in the Trans/R2K again today. Metals remain weak, Gold -$2, whilst Oil is holding strong gains of 1.6%



This is week'4 of sideways chop, in a rather tight trading zone of sp'1850/1815.. a mere 35pts..which isn't even 2%.

As many recognise, this is mere consolidation across time..rather than price.

*notable strength, with UAL breaking to $49, daily charts offering 50/51 in the remainder of the week.