Thursday, 5 March 2015

10am update - opening minor gains

Equities open a little higher, but are highly vulnerable to what could become a pretty strong reversal. Primary downside remains sp'2065. Metals are similarly looking weak, Gold +$3. Oil is on the slide, -0.7%.


sp60min


vix60min



Summary

With Draghi/ECB out of the way, we've now a clear run until the Friday morning jobs data.

Long day ahead... a net daily decline seems highly probable.... including the metals.
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Notable weakness:  BTU -3.4%
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10.36am  metals are close to maxing out..... equities look real stuck.  Looks like 11am will again be turn/reversal time.

Notable weakness: AA -1.4%... mid term outlook is now dire.. to $10/9 by late summer