Tuesday, 8 March 2016

1pm update - the battle continues

US equities have seen an initial turn from the natural turn time of 11am, with the sp' swinging from 1979 to 1993. The hourly 10MA @ 1994 will be difficult to close above today, but if the market can tolerate the next pair of Oil inventory reports, then renewed upside >2K looks due.



Little to add.

Another push higher looks due.. at least to the sp'2020s.

Current price structure could be argued is a multi-day bull flag... and cyclically, we're on the low end.

notable weakness.. GLD, daily

Relatively, Gold is still holding up well, it looks vulnerable with the next ECB/FOMC.. if briefly.

back at 2pm