Monday, 8 September 2014

3pm update - moderate weakness

US equities continue to see some weakness, but it certainly is not significant. Price action remains the same across the last few weeks... broadly stuck in the sp'2011/1990 zone. Metals and Oil both set to close significantly lower... largely due to the strong USD.



*I remain very reluctant to add any annotations to the hourly cycle. I think many are still losing sight of the bigger picture.. which remains strongly to the upside.

So...minor 'weak chop' into the close.

I don't expect 1990 breaking any time soon.

Notable weakness; CHK & SDRL, both -2.8%...the lower oil prices are not helping.

ps... the full moon is just now rising over the city... its quite a sight.

3.03pm.. Consumer credit jumps 9.7% in August...  but hey... a debt based economy...that is sustainable...yes?

Market clawing back for an sp'2000 close.

3.28pm... sp' sure does want to close at the 2000 threshold. Understandably... the bears will be disappointed.

*guess on clown finance TV was earlier touting 1930/00..then a bounce.. and then 1700s.. before year end.