Friday 4 December 2015

11am update - sunshine for the bull maniacs

US equities continue to build gains, with the sp' already close to the 2080s. With a bullish MACD cross due within 1-2 hours, the market should be able to broadly climb into next week. Commodites are mixed, Gold +$22, whilst Oil remains trading back and forth across the $40 threshold, currently -2.2%.


sp'60min



GLD, daily



Summary

*the gains in the metals are no doubt 'transitory'.. as Yellen might say. $1045 is no more a multi-year low than 1051, 1080, 1133, etc.
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Again, the 2 spike-floor candles yesterday afternoon were a classic example... warning the bears that the market was highly vulnerable to seeing renewed upside.

Now its merely a case of whether the Wed' opening high of 2104 is broken above. I believe it will be.. and my first target remains 2115/20 zone.

Without question though.. I sure was surprised to see the 2040s before 2110/20s
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notable strength

AAPL +2.5%
DIS +1.5%

miners, the ETF of GDX +3.7%

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Meanwhile, in London city...



.. with just over two weeks until the winter solstice.

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time to cook