Monday, 28 September 2015

11am update - morning washout

US equities remain significantly lower, with the sp'500 having hit 1902 (along with VIX 26.73). However, it is prime time for a rally into the afternoon. USD has notably turned lower, -0.1% in the DXY 96.10s. Metals remain weak, Gold -$12, with Silver -3.3%. Oil is above the lows, -1.2%.




*the smaller 5/15min cycles are offering a more clear turn... but I highlight the hourly charts for a slightly bigger perspective.

Not much to add.

I realise some of the doomer bears out there will be screaming for a break under sp'1900... but... I'm finding it hard to believe it is possible... not least after overnight price action.

notable strength: INTC +1.2%

*I am content on the sidelines.
time for some sunshine... back at 12pm