Thursday, 21 April 2016

11am update - minor chop

US equity indexes are seeing some minor chop... but unlike yesterday, the technical break of trend (from sp'2039) has occurred. A move to around 2090/85 seems probable today. More significant downside to the gap zone of 2065/61 will be more viable next Monday. Metals/Oil are both holding very significant reversals.


GLD, daily

USO, daily2


I realise a few out there will already be spooked at what is only minor chop... but we do have a break... and a net daily decline looks highly probable.

notable weakness: QCOM -1.8%... after rather lousy earnings.

Airlines: UAL -8.5%,  DAL -2.6%

time to cook!