Tuesday, 14 April 2015

11am update - equity spike floor

The hourly equity cycle is offering a spike floor from sp'2083... just 2pts above the 50dma. A latter day recovery.. with a net daily gain looks due for most indexes. Metals remain weak, Gold -$3. Oil is building strong gains of 2.2%... ahead of the next inventory reports.


GLD, daily


Overall price action remains very strong... not least reflected in other world markets.

Equity bears really don't have much realistic hope of sustained weakness until next month.

notable strength: CHK +2.2%.. as some legal dispute is apparently resolved.

weakness, Discovery (DISCA), -1.7%... am not sure why though.

time to cook...

11.17am.... spike floor seems confirmed with the move to 2094....  the 2100s aren't far off now!