Thursday, 21 April 2016

10am update - opening reversal

US equities open fractionally higher, but there is a rather clear reversal underway.. not just in equities, but all over the place. Most notable of all, Gold has swung from +$25 to +$5, with a rather stark black-fail spiky candle. Oil has imploded from gains of almost 2% to -1.0%.



GLD, daily


Finally.. we have a BREAK of short term rising equity trend.

There will be support around sp'2090... but the door is now open to the 2065/61 zone by late tomorrow/Monday.

The 2050s look out of range until AFTER the FOMC next Wed' 2pm.

We have an interesting day underway :)

10.01am Leading indicators +0.2%... a slight miss...   with prior months revised lower.