Tuesday 10 June 2014

12pm update - who needs charts anyway?

US equities continue to see micro chop, with the sp'500 comfortably holding the 1940s. A daily close back in the 1950s looks very probable, which keeps open the door to 1960s for Wed/Thursday. Metals are holding moderate gains, Gold +$7.


WTIC Oil, monthly'2, rainbow


Summary

*Stockcharts remains offline...
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Oil remains an interesting one, stuck in an ever tighter trading range. Those touting for inflation - due to the Fed printing, really ought to remain mute until we see a clear monthly close above $110. Similarly, the doomer deflationary bears nothing to get excited about unless Oil slips <$90..if not a more decisive $80.

In many ways...the Fed - and OPEC, probably have Oil prices just where they want them.

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VIX update from Mr T.




*I continue to hold WFM, and it is seemingly still okay, despite the fact that yours truly has bought into it.
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time for a spicy lunch