Thursday, 26 February 2015

2pm update - mixed chop

Equity indexes remain mixed, sp -3pts @ 2110, whilst the Nasdaq is holding fractional gains.. a mere 0.3% from breaking the giant 5k threshold. Metals appear maxed out on a bounce, Gold +$4. Oil continues to fall, -4.0% in the $48s.



Suffice to say.. it remains painfully tedious.

Notable weakness, CHK  *weekly cycle...

Nothing bullish in this one... looks set to return back to the lows from summer 2012.

2.26pm... renewed weakness.. sp -5pts to 2108....  soft support at 2103/00...

A daily close <2100 would be significant.. and (finally) open the door to the target zone of 2060/50s. 

2.30pm ... Oil is collapsing, -4.6% in the $48s... and this is certainly helping offer the chance of a key break.

Notable weakness: SDRL -2.3%... although earnings were certainly 'better than expected'