Monday, 28 December 2015

3pm update - net daily declines

US equities are set for moderate net daily declines. Price structure remains a baby bear flag, offering the sp'2042/36 zone tomorrow morning, before the market resumes upward. Metals are increasingly weak, Gold -$9, with Silver -3.4%. Oil is similarly weak, -3.0% in the $36s.


SLV, daily


*the weakness in the precious metals is causing some significant havoc to the related mining stocks. The ETF of GDX is -3.8%.

So.. net daily declines, and on balance, we'll likely see further weakness tomorrow morning, before the first realistic opportunity of a rebound.

Again, the longer the market stalls.. and takes to battle back into the sp'2100s, the more bearish the broader outlook gets.

There is a great deal to cover on how the US/world markets close the year, and the implications for 2016.... more on that though.. later this week!

back at the close