Thursday, 11 September 2014

2pm update - the chop continues

Equities remain a touch weak at sp'1990. Price structure is still offering another wave lower into the 1970s before the Friday close. Metals remain weak, Gold -$12, with Silver -2.1%, this is naturally pressuring the miners, GDX -1.1%


GDX, daily


A pretty quiet (if somewhat understandable) day.

Best guess... we'll still push lower.. and unlike today.. there is no QE-pomo tomorrow for the bears to have to fight against.

Notable weakness: SDRL -2.8%, the lower gas/oil prices are not helping.

2.27pm.. baby bull flag on the micro cycles... much like yesterday...



2.35pm.. Notable strength in the R2K +0.7%