Tuesday, 13 October 2015

2pm update - grey skies for the bears

US equities remain in moderate chop mode, sp -7pts @ 2010... brushing along the hourly lower bollinger band. Sustained action <2000 looks highly unlikely, and the market appears to be waiting on more significant earnings reports, as the excuse for a break into the 2030/40s.




*Oil remains an interesting one.. having cooled from morning gains of around 1.7% to -0.5%. For now... I'm content to watch.

So we're net lower again.. but really... there is still ZERO sign that the equity bears are going to be able to muster any sig' downside power this week... even if a few of the bigger companies miss on earnings.

Besides, when you have corp' giants like Johnson and Johnson launching giant share buy backs.. we're back to that old game again... in which case... shorting such stocks becomes mission impossible... even for Ethan Hunt.

As for the grey...

Only another SIX full months until summer. The horror.

back at 3pm..  unless a 'surprise' break under 2K.. but really.. that looks difficult, with price action as muted as it currently remains.

2.18pm... LONG-USO.. from $15.20...  will hold overnight.. and probably into Thursday/Friday.

2.34pm.. Naturally Oil falls into the gap zone after I buy...


In any case... cyclically, it should rally from here for a few days.