Thursday, 17 March 2016

3pm update - holding gains into the close

US equity indexes are set to hold gains into the close, with the sp'500 seemingly set for next soft resistance of 2050/55, where the daily upper bollinger is lurking. VIX remains under broad downward pressure, -4% in the low 14s. Metals have notably reversed, Gold -$2.




*Oil is +3.8%.. and that is what is arguably the primary driver of the ongoing nonsense.

The price in the Dow and sp'500 have been decisively filled.

I realise some are now getting more broadly bullish, even talk of new historic highs.. but unless we see a move much above the late Dec' high of 2081.. I can't see it happening.

Yours truly is now focused on the R2K, seeking a hit of the 1100 threshold, before a viable reversal.

notable strength.. BA, daily

With big stocks like BA continuing to push.. its hard to argue we won't see further upside.. to at least R2K 1100.

3.33pm.. R2K surges more to.. 1093... almost at the big 1100 threshold... which now seems due early tomorrow.