Wednesday 10 June 2015

12pm update - more Greek nonsense

The latest Greek news (or rumour) has seen a decisive break above the sp'2100 threshold.. along with a move above the 10 and 50dmas. VIX is confirming the move, -6% in the mid 13s. USD remains in cooling mode, -0.4% in the DXY 94.70s. Metals and Oil are broadly holding sig' gains.


sp'daily5



VIX'daily3


Summary

A major fail for the equity bears... but then.. sporadic Greek news/rumours remain a constant threat.

Daily/weekly equity cycles are starting to turn... and there looks to be viable upside into next weeks FOMC. With rates unlikely to be raised until the Sept FOMC, the market could battle upward into early July... at which point the USD should be flooring.

notable strength: oil/gas drillers, RIG/SDRL, both higher by around 2.3%.. as Oil +1.2%

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VIX update from Mr T.  

*seemingly taking a day off*

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time for lunch :)