Friday, 14 August 2015

11am update - leaning lower

US equities are starting to lean on the downside, with likely increasing downside into the weekly close.  Metals are holding moderate gains, Gold +$3. Oil is in bounce mode, +0.3% in the $42s, but looks highly vulnerable to losing the $40s in the immediate term.




Little to add.

Clearly, if the sp'2040s are coming, they sure aren't viable today.. or even early Monday.

As things are.. the setup favours the bears into early next week. The only issue that would provisionally negate such an outlook would be a Friday close above declining resistance of sp'2099... and I sure don't expect that.

time for a slightly early lunch...

11.12am.... With the USD turning positive... commodities under pressure...

Gold turns red... taking the miners lower.