Monday, 4 April 2016

10am update - opening minor chop

US equities open in minor chop mode - leaning a little to the downside. For now, the market is holding within a strong upward trend. As of the Tue' close, rising trend will be around sp'2060. Gold -$4. Oil +0.9% in the $36s.




*factory orders (10am): m/m -1.7%... not so great.

Little to add.

Its getting tiresome again.. as there appears little reason (other than pure cyclical reasons) for a turn.

Even more than the sp'500, I'm concerned about the Dow breaking back above the Nov' high... any price action >18K, and there will be zero reason to still hold short.

notable opening reversal, TSLA daily

You don't often see consecutive black-fail candles. On any basis, TSLA is due a retrace, but as its a momo stock - fueled by media hysteria, it is arguably merely one to watch.. and leave well alone.

*cheerleaders on clown finance TV are almost 100% bullish... pretty incredible to hear some of the stuff they are now spouting.

time to shop