Monday, 23 February 2015

3pm update - weakness into the close

It would seem highly probable that the equity bulls will be unable (for the first time in over a week) to break new highs into the close. It will only take a little closing weakness to take out the morning low of sp'2103, to provide a daily close in the 2090s. Oil has resumed lower after speculation on an OPEC meeting, -2.8%.


USO, daily


*Oil remains highly volatile intraday... swinging from -3% to -0.7%.. and back to -3%

Again, price action remains relatively subdued.. as most are waiting to see what Yellen has to say to the US Senate tomorrow morning.

Notable strength: AAPL +2.3% in the $132s.