Friday, 13 March 2015

1pm update - a troubled market

US equities remain broadly weak, with significant declines across most indexes. Even if the sp'2039 low holds into the weekly close, the total fail of the Thursday bull flag is a serious problem for the bull maniacs. Any rally to the 2070s next week will make for a rather obvious level to short from. Oil remains weak, -3.6%.




*new chart above... with two key downside targets.

If we get stuck in the 2070s next Mon-Wed.... with another failure to keep pushing higher.. then weakness to at least sp'2k looks probable.

This looks increasingly likely as Oil is set to lose the $43 low... and that will cause absolute carnage in energy stocks.. and drag the main market lower.

time for lunch... back soon