Thursday, 31 March 2016

10am update - opening micro chop

US equities open rather subdued. The hourly equity/VIX cycles continue to increasingly lean in favour of the equity bears. With the USD -0.4% in the DXY 94.40s, the metals are naturally on the rise, Gold +$11, with Silver +1.5%. Oil is +0.5% in the $39s.




*Chicago PMI: 53.6... nothing bearish there. Equity bulls should be rather pleased with that number.

Little to add.

First soft downside target for the bears should be a break under the Tuesday close of sp'2055. If that can be achieved, the door will open to 2040/35... with VIX 15s.

notable weakness, BA, daily

Lower for a seventh day... seemingly headed to 122/121.

time for some sun... back soon