Tuesday, 10 November 2015

3pm update - a little tedious

US equities are a little higher, with the sp' having battled from 2069 to 2082. Ongoing price action remains weak though, and further downside looks due into early next week. The sp'2020s would make for a very natural retrace of the hyper-ramp from 1871-2116.




*have re-drawn the bear flag on the equity chart. So long as we don't break/hold above 2100, the default trade (at least in the VERY short term) remains to the downside.

Regardless of the exact close, current price action should be nothing for the equity bulls to get overly excited about.

... but then.. neither can the bears hold any hope of sustained price action under the sp'2K threshold.

In many ways... its a case of turn off ya screens until next week.. and see where we are then.

notable weakness...

AAPL, daily

Particularly weak on chatter of reduced component orders (thanks for the reminder KZ).

back at the close.