Wednesday 2 July 2014

1pm update - afternoon chop

US indexes continue to see minor chop - ahead of the monthly jobs data tomorrow morning. VIX remains crushed, -3% in the 10.70s. Metals remain a touch higher, Gold +$2, whilst Oil continues to slide, -0.8%.


sp'weekly8b


Summary

*the attached count on the above should be taken somewhat 'lightly'. However you want to count this, primary trend is higher. Equity bears need a July monthly close <1900, and right now, I don't think that is viable.
--

Suffice to say, market is likely to close largely flat today.

-

VIX update from Mr P.


--
Notable weakness, airlines, UAL, DAL.