Wednesday, 30 December 2015

3pm update - clawing into the close

US equities are set to close moderately weak, but with the 5/15/60min cycles all inclined for a touch of upside into the close. A year end close around 2090 remains within range. Metals are weak, Gold -$6, with Silver -0.4%. Oil has been completely unable to rally, -3.2% in the $36s.




The micro cycles are indeed offering a touch of natural upside into the close, but still.. we'll likely close net lower on the day.

*I'm aware of a few who are seeking some kind of New Years eve sell off, but really.. price action remains relatively subdued.

Considering the bigger daily/weekly cycles, the market is more inclined to push upward.

*keep sending those 2016 predictions in.    see: HERE


3.39pm...  and a micro snap lower.. to a new low of sp'2065.

So.. the gap zone looks like it will be filled after all.

Hmm... a daily close in the 2060s will make 2090 difficult tomorrow. The only data of note is Chicago PMI, and that isn't likely to come in much above 50.