Monday, 1 December 2014

2pm update - baby bear flag

US equities remain broadly weak, with the two leaders - Trans/R2K, lower by a significant -2.4% and -1.1% respectively. Price structure on the hourly cycle is offering a small bear flag, with viable downside to sp'2020/00.. by mid month.


Trans, daily


*precious metals remain powerfully higher, Gold +$51, with Silver +7%. Biggest gains of the year.. after significant overnight declines.

Interesting day.. not least in the energy sector...

BTU -6.7%... coal miners getting destroyed...
RIG -5.2%.. having lost the 20s
SDRL -8.0%... now in the 13s.... close to first target of $12.

*more on those three companies after the close on my 'fair value' page.

Notable weakness in the momo stocks.. inc. TWTR the $39s.