|Bullish Park land.. and London skies|
...back from a little walk.. on what is probably one of the last decent warm days this city is going to see until next May. With 6/7 months of likely grey gloom ahead... it is not exactly the most pleasing of thoughts.
As for the market..the break under sp'2000 really isn't anything to get excited over. Taken as a collective, the market is only seeing 'minor weak chop' today... nothing more.
It is notable that the weekly 'rainbow' candle has turned blue with the fall <2003.
...equity bears should be looking for 2-3 blue candles before the next multi-week down wave, but I'm still guessing we'll see the 2030/50 zone...first.
2.05pm.. It is somewhat amusing that with a mere drop of -0.5%... web traffic jumps. It remains the case that so many still get twitchy on ANY minor decline.
I suppose some could say that its bearish, but really.... need a hit of that upper weekly bollinger band....in my view.
2.20pm.. The USD is +0.6%... this remains a real pressure on ALL asset classes. In many ways, it is quite remarkable how strong equities are...relative to the ongoing multi-month rally.
Here is a scary thought... what if the USD cools (if only for a few weeks).. that is really going to pressure equities even higher.
*carnage in the miners, GDX -3.3%