sp'daily5
Summary
Welcome to November... we're in the last sixth of the year... if you can believe it. Santa ain't too far off now.
Notable early strength, miner ETF - GDX +1.6%, but having fallen 19% in November, it could bounce 5% this week, and it would do nothing to the broader trend. Indeed, precious metals are essentially in free fall... and should continue to take the miners with them.
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Doom chatter, Hunter with Pollock
As ever, make of that.... what you will.
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Good wishes for the week ahead
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9.04am... Indexes turning positive, sp +2pts... we're set to break a new historic high of 2020.
A fair few out there (hey Deflationland).. are seeking the 2040s.. before a key turn. I suppose we might hit 2040.. and then 1975/50 zone, but really. I can't see sub 1900s in the remainder of the year..... not with the JCB/BoJ out there.
Notable weakness, TWTR, -1.7%.. approacing first key support of $40/39
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9.35am ... very minor chop.... VIX is +2.7%.... kinda interesting
Fractional new historic high in the sp'500