Monday, 7 March 2016

2pm update - the chop continues

US equity indexes are moderately mixed, with the sp -1pt, whilst the Dow is +49pts. VIX is +3% in the mid 17s. The key 20 threshold looks out of range until at least the ECB this Thursday. Metals are choppy, Gold +$5.. having briefly turned negative.

GLD, daily2

USO, daily2


Little to add.. on what is a quiet day.... tomorrow will likely be quieter..  and such light conditions favour the bulls.. via algo-bot upside melt.

*I am aware, the infamous Gartman is lightening up on the long side.. so.. that probably confirms we're headed for 2020/40 zone into the FOMC.

back at 3pm