Thursday, 30 October 2014

11am update - broader weakness

Despite the Dow being higher by over 100pts this morning, the rest of the market looks tired. The 'old leader' Trans has already slipped by -1.5%.. and there looks to be viable weakness all the way into the Friday/monthly close.


sp'15min


Trans,daily


Summary

*Dow is the anomaly..because of Visa.
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Overall, market is looking tired...and due a retrace down to the 1920s....but clearly, that will take us into next week.

Meanwhile, utter carnage in the miners, GDX -4.3%...... the collapse...continues
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*I am short this morning, from sp'1981, will look to hold into late Friday afternoon, with an exit into the weekend.
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11.18am.. minor up wave.. sp'1984....

Meanwhile... absolute sector destruction..... miners ETF, GDX -5.6%... and Gold ain't even broke critical support yet.... but it will.