Wednesday 16 September 2015

3pm update - chop into the close

US equities look set to close in the sp'1995/85 zone, with VIX 22/21s. USD remains moderately weak, -0.3% in the DXY 95.30s, which is helping commodities - Gold +$13. Oil +5.0% in the $47/46s.


sp'60min



USO'15min



Summary

*as at the Thursday close.. there is viable downside to 1960.. without breaking rising trend/bear flag
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Market will likely remain in minor chop mode into tomorrow afternoon.

I remain of the view that regardless of decision.. the market will rally (and that doesn't negate the threat of an initial sell down).

I have little interest to launch any market shorts until next week.

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I continue to have eyes on picking up USO again.. but unless 15.10/00.. I'll leave it alone... and wait for a market top in the sp'2040s or so.

Regardless... today has been fine.
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back at the close.