Wednesday, 11 March 2015

1pm update - market battling to climb

US equities remain in chop mode, but there is a somewhat obvious attempt in progress to retake the sp'2050s. VIX remains subdued. Metals are weak, Gold -$11.. set to lose the Nov' low of $1130. Oil remains weak, -2.1%




Not much to add.. on what is arguably a turn day. Yes.. we broke a lower low today of sp'2040, but really.. market looks exhausted on the downside.

A bounce into the 2070/80s looks VERY probable.. and if we see a short-stop cascade.. then those levels are viable into the Friday close.

Notable strength: INTC +3.0%