Friday, 6 February 2015

11am update - no failure

US equities have stabilised from a marginally shaky open.. and have built moderate gains into the sp'2070s..  around 1% from breaking a new historic high. Metals continue to unravel... Gold -$32.. making for a net weekly decline of -4% or so. Oil is holding gains of 1.3%.



The hourly cycle is somewhat interesting, with the break above resistance of sp'2064... but really....

...reflect on the following for a few minutes...

Dow, weekly

Effectively.. a 900pt swing from the Monday morning low.. a HYPER bullish weekly candle... of the 'bullish engulfing' type. The strongest up swing in a very long while.

*having dropped TWTR (long) at the open, I am content to be out for the weekend. It is time for Gold Rush yet?