Wednesday 10 June 2015

11am update - battling for 2100

US equities are building borderline significant gains, with the sp'500 making a play to break/hold the 2100 threshold. With the USD cooling, -0.4% @ DXY 94.80s, the metals/oil are seeing some natural sig' gains, which look set to build into next week.


sp'daily5


Summary

*VIX is reflecting the renewed market confidence, -5% in the mid 13s, and that is of course somewhat bizarre considering the unresolved Greek situation.
--

Well, its not looking good for those in equity bear land.

We have a clear break of the recent down wave from last Wednesday. Now its merely a case of attaining a daily close >2100... which does appear likely.

--
notable hyper-strength, NFLX +6%, as the momo chasers are out in force...


A great many price gaps, once the main market maxes out, it will be highly vulnerable to a brief.. but very sharp down wave. Long term though... it looks super strong. No doubt, a stock split will attract even more speculative interest... as was the case with AAPL.


11.21am.. clear upside break... short-stop cascade well underway.

A daily close in the 2100s looks probable..  which opens the door wide to upside into the FOMC... and somewhat beyond.

Eyes on the USD, -0.6%..... on track for the DXY 92/90 zone.. before a hyper-wave to 120s.