Thursday, 5 May 2016

2pm update - more bearish sunshine

US equities remain in minor chop mode.. with underlying price pressure still clearly leaning to the downside. A break into the sp'2030s remains very viable tomorrow. A more dynamic move into the 2020s would start to give initial clarity/confidence that 2111 was indeed an important mid term high.




*no doubt, part of the current afternoon equity cooling is due to Oil, which has lost most of the earlier 3% gains.

So.. we're a little lower.

Considering current price action remains broadly subdued, a break under the sp'2040 threshold looks more viable tomorrow than by today's close.

If the market can break under the soft two lows of 2039/33.. with a weekly close in the 2020s, we'll likely see another wave lower next Mon/Tuesday to 2000/1990s.. and then another bounce of around 3%.

Here in London city....

Pretty hazy, but I'm fine with that  :)