US equities are battling hard for minor gains, but overall market mood remains somewhat unsettled, and there remains high probability of a major sell down on the Friday jobs data. With the USD +0.6%, the metals are under pressure, Gold -$10. Oil is similarly on the slide, -2.2%.
sp'60min
GLD'60min2
Summary
*Having exited a GLD-short earlier, I'm looking for a re-entry.. but I might just not get a better level. Oh well.
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So... we're battling upward right now.. but things don't feel so great in market land... not least after the last two days.. as also supported via very weak EU/Asia markets.
On balance.. we're still set to fall into the weekend.
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notable cooling in BABA....
A rather classic opening black-fail candle... and for those watching the open.. the smart ones will have already bailed, not least as the broader market still looks vulnerable.
As I often say... black-fail candles are not to be dismissed lightly! (even when earnings were good)
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time to shop... back soon!
11.32am sp +8pts @ 2088.... hmm... latter day weakness remains very viable... or a simple gap lower on the Friday open. For now.. market is moving into holding pattern...
Oil remains notably weak, -1.8%... and that is not helping energy stocks., SDRL -4%
