sp'60min
Summary
*I bailed on FCX (long) at the open.
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Despite the opening reversal, I'm still dubious of the bears. Barring a break <1850, along with the 50 day MA @ 1857.
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re: AAPL
The daily candle looks VERY vulnerable like that - same as NFLX just a few days ago.
To be clear, this is an interesting open, but I still do NOT see the equity bears as having much hope until next Wednesday's FOMC.
I would change my view on any break <sp'1850. Until then, the broader up trend HOLDS.
time to shop...back in a bit!
10.34am.. back from the shops (yeah, I do shopping trips between my postings)
So, indexes are a touch weak, but...as ever..bears just lack the downside power to really break lower.
A daily close in the 1880s remains very viable...which I realise is going to really annoy many.
10.41am... Precious metals are still higher...but...already starting to lose their reversal gains.
Gold appears stuck under the 200 day MA...and Silver is much weaker of course.
I'm still looking for the 2013 lows to be taken out, maybe they'll do it on a Sunday night or FOMC day.