2pm update - time for some fedspeak

US equities remain seeing minor chop, with a touch of weakness. The smaller 15/60min equity cycles favour the bulls into the close. VIX is offering a brief jump to the upper gap zone of 13.75 though. USD remains higher for a third day, +0.3% in the DXY 95.50s.


VIX'60min

Summary

Its a little mixed right now. Equities look broadly okay.. the only hope for the bears is the VIX, which on balance will climb into the close.

... awaiting the FOMC minutes...

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notable weakness... airlines.. UAL

Pretty severe, having lost the 200dma. Next support is probably not until $52.50. More on that one later though... on my 'fair value' page.
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2.02pm.. Most Fed officials see June rate hike 'unlikely'

USD initially cools..... metals/oil jump... a little.

Equities still choppy...

............. but overall.....  there is nothing in the minutes for the equity bears to get excited about.


2.07pm.. notable strength: BABA +1.7%.. making a play for the $90s


2.18pm.. sp' 2130... next level.. 32/33... new highs now viable.

notable weakness, Ford (F) -1.2%... part of the transports broader weakness


2.32pm.. a short-stop cascade underway... with new historic highs....   for the bears.. its just another day.

USD cooling, now +0.1%... with metals battling to build moderate gains, Gold +$3.