Monday, 23 February 2015

2pm update - the chop continues

US equities remain a touch weak, having seen a minor rally - due to Oil clawing from -3.0% to -0.7%. Metals remain highly vulnerable on rising support, Gold +$1. Equities remain in minor chop mode.. ahead of the Yellen tomorrow morning.


GLD, daily


*Gold sure looks weak, failed morning rally... highly vulnerable to renewed significant weakness.

As for equities, market will typically turn around 2.30pm.. so.. unless the bulls can break sp'2110 within the next 30mins... there is likelihood of weakness into the close...

Seeking a break of the morning low of sp'2103.