Monday, 23 February 2015

1pm update - still weak

US equities look increasingly weak, and even the Nasdaq looks vulnerable to closing red, for the first time in nine trading days. Metals also appear increasingly weak, Gold -$1. Oil remains significantly lower, -2. %.



Seen on the bigger daily cycle, this market is looking real tired.

Frankly, I'll be surprised if market can break a new high this afternoon... more likely...a  break of the morning low of 2103.

A daily close under *2100 now looks viable.

*yes.. the notion of a close under 2100 is pretty bizarre.. if you think about it.

Notable weakness, copper miners, FCX and TCK, both lower by around -3%