Thursday, 4 February 2016

10am update - opening weakness

US equities open moderately lower, with the sp'-3pts @ 1908. The Wed' low of 1872 looks very secure, and broadly.. the market still looks set for upside to the 1970s. USD remains notably lower for a second day, -0.8% in the DXY 96.50s. That is no doubt helping the metals, Gold +$12, and Silver +1,5%.


GLD, daily


*note the hourly MACD (blue bar histogram) equity cycle, we're set to get a bullish cross in the 10am hour.

Yesterday's closing daily candle was pretty clear, a spike floor, and this mornings opening weakness is just a tease to the bears.

The dividend cut for Conoco is to be expected, but that still doesn't merit as industry capitulation. Companies are going to need to... disappear.

*Interesting coverage on drug pricing on clown finance TV.. with Shkreli of Turing, set to speak.

'On the advice of counsel....'

stay tuned