US equities are battling hard for minor gains, but overall market mood remains somewhat unsettled, and there remains high probability of a major sell down on the Friday jobs data. With the USD +0.6%, the metals are under pressure, Gold -$10. Oil is similarly on the slide, -2.2%.
*Having exited a GLD-short earlier, I'm looking for a re-entry.. but I might just not get a better level. Oh well.
So... we're battling upward right now.. but things don't feel so great in market land... not least after the last two days.. as also supported via very weak EU/Asia markets.
On balance.. we're still set to fall into the weekend.
notable cooling in BABA....
A rather classic opening black-fail candle... and for those watching the open.. the smart ones will have already bailed, not least as the broader market still looks vulnerable.
As I often say... black-fail candles are not to be dismissed lightly! (even when earnings were good)
time to shop... back soon!
11.32am sp +8pts @ 2088.... hmm... latter day weakness remains very viable... or a simple gap lower on the Friday open. For now.. market is moving into holding pattern...
Oil remains notably weak, -1.8%... and that is not helping energy stocks., SDRL -4%