Friday, 20 November 2015

11am update - bullish sunshine

US equities continue to build gains, with the sp +13pts @ 2094. To negate all of last weeks declines, the bull maniacs need a weekly close >2099.2, and that is clearly very possible. With the USD +0.4% in the DXY 99.40s, metals are increasingly under pressure, Gold -$2, with Silver -0.7%.



*for some reason I've been touting 2097 as necessary to reverse last weeks declines, not taking note that there was a minor gap lower on last Monday's open... so, actually the target is 2099.2 - from the Friday 6th close.

In any case... a very strong rebound, and it was somewhat nauseous to see how pleased the Cramer was this morning at how the 'year end buying' has perhaps already begun.

Indeed, with most fund managers having had the worse year since 2008/09, will there be panic buying on renewed confidence, not least if the Fed raise rates?

Right now.. that would seem to be probable.

Meanwhile... the sun finally appears in London city...

Very significant construction projects continue across the wider London metropolis, whether domestic housing or commercial office space/residential towers. There are also a great many transport/utility upgrades, its a very... very long list. For those in the construction sector, London is ticking along rather well.


*outside my window.. a pure white Cinderella-esque horsedrawn carriage... with a police escort on the urban freeway.

All thats missing is a trailing rainbow and maybe swap the horse for a Unicorn. I hear there are still a few in rural Tibet.

time to cook