Wednesday, 9 March 2016

1pm update - cheerleaders still bullish

US equities remain moderately higher, sp +6pts @ 1985. With the ECB tomorrow, there remains high risk of another push higher into the sp'2010s before the weekend. Metals have rallied from the earlier lows, Gold -$4, with Silver back to u/c. Oil is holding sig' gains of 4.5% in the $38s.



Little to add.

Its naturally kinda quiet out there, and most are now just waiting for the ECB tomorrow.

Price structure mains bullish, and cyclically, the setup also favours the bulls for rest of the week.

Meanwhile, on clown finance TV

So... despite being stuck since May'2015, four of the regulars still don't see any problems ahead. No doubt they'll be 'ohh so surprised' when sp'1700/1600s.

.. then talk will swing to whether the fed will need to follow the BoJ and ECB, and move to NIRP.

notable weakness... TVIX, daily

With VIX reversing from the 19s, TVIX is naturally cooling. Price structure could be argued is a 4 day bear flag... with the $5s briefly viable next week.

back at 2pm