Tuesday 17 March 2015

10am update - a second bull flag fail

US equities open moderately lower, with the market back in the sp'2060s. It is particularly notable that this is the second bull flag failure in three trading days.. regardless of where the market trades into Wednesday afternoon... two failures do not bode for sustained price action >2080.


sp'60min



sp'daily5b


Summary

... we have an interesting open... and with a second bull flag failure... market is again showing some serious underlying weakness.
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Notable price action... in the precious metals...

Gold has swung from -$10.. to +$2 in the opening 30minutes.... Hmmm

15min cycle


A hyper-spike.. after opening reversal candle.

To be clear though.. I am STILL looking for a key break <$1130.
--
time to shop... back soon


10.35am... Minor chop...  it is notable that the VIX is not showing any concern, +1.5% ... ahead of Wed' opex.