Monday, 21 December 2015

1pm update - holding a double floor

US equities are holding what is now a double floor of sp'2005. Renewed upside looks due into the late afternoon. Equity bulls should be pushing for a few daily closes above the 50/200 day MA's in the sp'2060s, but those look out of range in what will be an increasingly subdued short week.



Little to add.

I realise some will be touting the failure to hold early gains, but really.. underlying price pressure is ticking upward.. not down.

notable weakness...

TWTR, daily

One of the worse performers, TWTR has now lost over a third since the $32s in late October. A company clearly in disarray... unable to grow the userbase, and finding it difficult to turn even a mediocre profit.