Thursday 5 June 2014

3pm update - minor melt into the close

US indexes look set for net daily gains across, with the sp' likely to attain a daily close in the 1935/45 zone - impressive on any basis. Metals look set to hold gains, but remain under old broken support. VIX still appears liable to breaking into the 10s...soon.


sp'60min


Summary

Well, with new historic highs, I can understand the dismay that must be out there in equity bear land - although I realise, coming from someone self titled 'permabear', it must sound kinda odd.

Regardless, the trend into early tomorrow is clearly bullish, and market has a fair chance at the 1950s.
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As ever, I am more interested in the bigger picture, but more on that later...