Friday, 6 November 2015

12pm update - remaining moderately weak

US equities are seeing renewed weakness, with the morning low of sp'2083 set to be broken this afternoon. Daily MACD cycles continue to swing back toward the bears.. offering a retrace (at min) to the 200dma in the low 2060s.. and almost equally viable.. the 50dma in the 2020s, viable within 4-7 trading days.




So.. a hell of a lot of price chop today.. as the market is battling it out.

Daily charts remain suggestive of a near term retrace.. and I'm still calling 2116 a short term high.

notable weakness... as the USD +1.2% in the DXY 99.20s.

Oil -1.9% in the $44s
Gold -$16, with Silver -1.6%, with the related miners, GDX -3.2%

VIX update from Mr R.

time for tea.