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.


sp'60min



Summary

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.
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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.