Monday, 26 January 2015

10am update - weak, but nothing significant

The US equity market has started the week on a negative note, but it is certainly nothing of significance. Metals are on the slide, Gold -$11. Oil is higher by a moderate 0.5%



So.. we're lower, with a clear break of trend on the hourly cycle.

All things considered though - not least the Greek election, price action is nothing for the equity bulls to get worried about.

A daily close >2030 is a 'must' though.

notable weakness, STX...

Lower by almost a full -10%, but still... I like the company across the longer term. Great drives... never had one fail on me yet!

*Gold bugs should be very concerned of a new multi-week down cycle that might be underway. There is already plenty of chatter about a post FOMC smack down... and that would not surprise me. As ever... implications for the miners.