Thursday, 5 May 2016

12pm update - minor swings

US equities remain in minor chop mode, seeing a morning low of sp'2051, but seemingly headed for another brief foray to the 2060/65 zone. Sustained action >2080 looks out of range before the 2030/20s. Market is clearly content for a day of minor chop before the Friday monthly jobs data.




So...  a touch of weakness to 2051.. and a clear spike back upward. As things are, we'll be cyclically on the high side by the close of today. For the equity bears.. that at least offers a reasonable setup for tomorrow.

notable weakness: the EU financial of doom:  DB, daily

Another rather nasty day, currently -3% or so in the $16s. The $10 threshold looks a valid target this summer... and if that's the case, its hard to envision sp' now having broken under the 1810 low.

time to see what the cheerleaders are saying on clown finance TV.......