Tuesday 16 December 2014

1pm update - baby bull flag

US equities have cooled a little from the earlier high of sp'2016. Price structure is offering a baby bull flag, with renewed upside after the typical turn time of 2.30pm. Metals are battling to hold minor gains, Gold +$7, but vulnerable to closing red.


sp'15min


Summary

Choppy action into the early afternoon.

Seeking market to level out in the 2000/1995 zone by 2.30pm.. and then up into the close.
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Notable weakness, AMZN -2.1%....

Strength: oil/gas drillers, SDRL/RIG +5% or so.     If oil is set for a major multi-month bounce..to the low $70s.. then drillers are going to soar into early spring.


1.16pm.. Hmm... the latest micro down wave is a little more strong than expected.

Regardless... the Yellen is coming tomorrow afternoon.... bears beware.


1.35pm... sure is one hell of a volatile market. As ever.. for the big money... trading stops are a must.

Notable weakness, Alcoa (AA) -2.1%.. although I'm broadly bullish on that one... for next yr.