Tuesday, 1 December 2015

11am update - brief tease to the equity bears

US equities saw a rather notable swing from sp'2098 to 2086 across just 25mins. Yet.. the market has rebounded, and is making another play for the 2100 threshold.. which remains due. Oil continues to struggle, -0.5% in the $41s, sitting on key support.




Certainly.. price action is pretty dynamic around the sp'2100 threshold... but on balance.. we still look headed higher.

Oil remains on the edge... ahead of the next pair of Oil reports. A net draw down would likely be the excuse for renewed upside, but the bigger factor is arguably this Friday's bi-annual OPEC meeting.

notable movers...

BAC +1.3%... set to break out of a bullish pennant
DIS +1.3%
INTC +1.2% in the $35s.. headed for 37s

TWTR -1.2%... momo chasers refusing to get involved.

time to cook !