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.
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.
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%