Monday 4 April 2016

12pm update - still.... minor chop

US equities remain in minor chop mode, with the sp -5pts @ 2067. Whilst the USD is broadly flat in the DXY 94s, the metals are moderately weak, Gold -$4, with Silver -0.4%. Oil is under pressure, swinging from gains of almost 1% to -0.6%.


sp'daily



Dow, daily



Summary

Little to add... on what is a broadly subdued day.

Cyclically, a retrace is due, but equity bears need a clear break of the rising trend, which at the close of today will be around sp'2055. Considering the current style of price action, sub 2055 looks out of range today.

--
notable weakness, Ford, daily


Remaining broadly ugly, and considering how close to new index highs we are... Ford looks especially vulnerable.
-

time for lunch