Wednesday 10 June 2015

1pm update - holding the gains

US equities are holding significant gains, with the sp' +26pts @ 2106. The daily cycle is offering new historic highs in the 2140s, clearly though.. the Transports won't be breaking any new highs for a long while. USD remains in cooling mode, -0.4% @ DXY 94.70s. Gold +$10. Oil +1.8%.


sp'60min



sp'daily5


Summary

Not much to add. Unlike last Wednesday, today's breakout looks far more sustainable.

A daily close above sp'2100 would give clarity of further upside into next week. After all, everything in Greece is again 'fine'.. right?

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notable strength: INTC +2.0% @ $31.90s. Unless the $35 threshold is broken and held over...the broader price structure remains very bearish for the late summer.

weakness: TSLA -1.9%... even the momo chasers aren't interested in that one.