Thursday, 17 March 2016

10am update - messy open

US equities open in a particularly messy manner, as the market seems a little confused as to where it wants to trend today. VIX remains broadly subdued, showing no indication that the market is yet to push significantly lower. Metals are very choppy, with Gold +$2. Oil is helping to hold the market together, +1.5%.




So.. overnight gains... pre-market declines, but still managing to open fractionally higher.. only to then swing lower.

For the moment.... it still looks like equity bulls will manage to push upward to the sp'2038/43 gap zone.

The most bearish aspects are in other world markets.. which all look maxed out.

notable weakness, BAC, daily

Looks maxed out in the $13s.... first target is the big $10 threshold.

*Awaiting Leading indicators @ 10am...  +0.1% ...

Meanwhile, on clown TV....

Mr Cashin.. for St' Patrick's day.

10.05am.. no downside power.... we still look headed UP.