Wednesday 12 November 2014

3pm update - weakness into the close

US equities look set for some renewed weakness into the close. The daily 10MA of sp'2024 should be first target for the bears in the remainder of the weak, and that will open up a broader downside retrace target zone of 1980/50 before month end.


sp'daily5


Summary

Little to add...  on what is another rather quiet day.

Right now, bears should be merely looking for a break to the 2020/10s by the Friday close. In scheme of things..not very exciting.. and I certainly won't be meddling in the indexes - either side, for rest of the year.
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Metals remain weak, Gold -$5, which is keeping the pressure on miners... which I remain short.