Monday 9 March 2015

1pm update - tedious bounce

US equities are holding bounce gains, and should get no higher than the sp'2080/85 zone. Regardless of the rest of today, a break under the Friday low of 2067 looks relatively easy.. and should equate to VIX 16/17s. Metals remain weak, Gold +$2... with miners continuing to see sig' declines, GDX -3.1%.


sp'15min


Summary

Little to add. Its getting somewhat tedious again... ahead of the next wave lower.
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Notable weakness: AA


A major failure to hold the floor.... next core support... a long way down in the 10/9 zone.