Tuesday, 24 November 2015

2pm update - significant recovery

US equities have seen a significant recovery from the morning low of sp'2070... back into the 2090s, and it is notable that we're just 2% shy of a new historic high. Oil is holding sig' gains of 2.3%, and that is certainly helping the broader market.




*the daily sp'500 candle is particularly bullish, with a clear spike from the 50% fib' retrace of 2070.

Frankly.. it bodes especially bad for the equity bears.. as the 2100s are now within reach even before the Thanksgiving break.

Regardless of whether we close net higher.. or a little lower... today has been another example of the underlying upward pressure in this market.

I would dare say.. if you don't get it by now... after all these years...

notable strength

CREE +2.8%.. in the $27s

miners, GDX +3.5%.. as Gold +$6

oil/gas drillers, RIG +4.2%... as Oil looks set to climb into early December.

back at 3pm