Friday, 3 October 2014

2pm update - still... on the edge

US equities remain very close to key resistance of sp'1970. Equity bears remain in serious trouble. Even a daily close in the 1950s will not negate what has been a powerful up wave from 1926. USD is holding major gains of 1.2%



Summary remains a VERY borderline situation.

Remainder of the day will be critical.... but as noted.. even if the bears can break back into the doesn't mean the bulls can't push higher on Monday.

For now, its a case of...holding on.

Notable weakness: oil/gas drillers, RIG -3.4%, SDRL -1.1%

2.26pm... approaching typical turn time of 2.30pm... sp'1970.... sitting on the threshold.