200 day has turned down. I wouldn't put the house on it...

200 day has turned down. I wouldn't put the house on it Shonan.

The markets are generally telling us something. This rode the back of the short covering rally on FMG and AGO but watch FMG slide back below 4.40 over the next few days. No one will go long FMG now and the shorts will hammer it again (all IMHO).

OST doesn't know if it is IO or steel so takes the bad news from both camps. Over the last few weeks the DJUSST has looked like reaching a bottom. Keep an eye on it as if it breaks lower OST will follow.