Wednesday, 9 December 2015

11am update - sunny morning for the bull maniacs

The opening decline of sp -9pts has seen a rather significant reversal, with the sp' +12pts @ 2076. First soft target is a daily close above the 2080 threshold, with the 2115/20 zone viable within a few days. With the EIA report showing a net draw of -3.6 million barrels, Oil is +1.3% in the $38s.




As I noted yesterday, the setup was very similar to last Thursday. The fact we opened lower was a mere bonus opportunity for bears to exit and/or go long.

Now its just a case of whether we close above.. or below first soft target of 2080.

notable gains...

miners, FCX, +8.9% , as the dividend is cut, the stock is clearly seeing a fierce short-stop cascade, as bears make a run for the exit door as the bad news is now out.

GDX +1.5%

Energy stocks...

APC +2.4%
RIG +3.2%
SDRL +7.1%

Although yes... all those stocks have been recently obliterated.. so even 15/20% into year end will only be a moderate recovery for the losses across 2015.

Meanwhile in construction land.. aka.. London city...

Bullish winter shadow

Another rather great late afternoon sunset, and that is something I am truly bullish about.
time to cook

11.36am... A late morning cool down.... indexes almost back to flat... with Oil a touch red.

notable weakness, tech, AAPL -1.2%... with the Nasdaq -0.5%