Thursday, 19 November 2015

12pm update - baby bull flag

US equities remain in chop mode, and are merely seeing a very minor retrace, with price structure offering a baby bull flag.. leading to the 2100s, whether tomorrow, or more likely next week. USD is increasingly weak, -0.8% in the DXY 98.80s, and that is helping the metals bounce, Gold +$14.


GLD, daily


*re: Gold. No doubt the floor callers are out there again.... now $1062 is their 'key low'.

A retrace to around 2070/65 looks viable... before resuming upward.

Clearly, we're going to close the week sig' higher, as market sentiment continues to improve with each day.

*something to keep in mind... next week is a 3.5 day trading week...  and such holiday conditions will favour algo-bot upside melt. 

VIX update from Mr T.

time for lunch :)