sp'60min
Summary
We're set to open decisively below the big bear flag...and frankly... its looking rather good for the 2050s today.. with VIX pushing into the 18s.
notable early movers...
FCX -3.8%.... as traders fear for the miners
SDRL -2.5%.... as Oil is headed <$40
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Update from Mr C.
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Overnight Asia action
Japan:+0.3% @ 19697... broadly stuck
China: -0.5% @ 3632... looking tired... a test of the 3400s looks possible.
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Have a good Thursday
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8.42am.. Gold -$4... @ $1080.
Gold, monthly
The low to break is $1072... and then its open air to the giant $1K threshold. Gold bugs are in for a world of hurt into year end. Higher rates are bearish gold... and the related mining stocks will be similarly hit.
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9.20am... The 200dma has been taken OUT in pre-market.
sp -13pts... 2062.
Gold... $1075... new multi-year lows... imminent.
9.40am... decisive opening... to sp'2060... another 10/15pts look viable by the close.
Time is an issue... bears window should stay open until late Friday/early Monday.
Commodities remain under pressure... with energy stocks getting trashed again.