Monday 23 November 2015

11am update - a bearish glimpse of sun

US equities are holding minor gains, although a fair number of inidividual stocks (AAPL, DIS) are looking tired.. trading within their respective price gap zones. Price action remains broadly subdued though. Metals are increasingly weak, with Gold -$8 at $1068... the 1062 low is not going to hold.


AAPL, daily


DIS, daily


Summary

Mr Market is likely looking for an excuse to gap lower, with a brief 1.5% washout.. to test the 200dma... with the 50dma soon to be in the 2060s.

Broadly though... any shorts are overly risky.. as the market is clearly pushing upward into year end.
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Here in London city...


A rather pleasent late afternoon, although the nights are icy now... -5c (23f). I guess that is bullish utilities, as energy consumption is now soaring across NW Europe.
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time to cook