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sp'daily5
Summary
*awaiting a trio of econ-data this morning.
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So.... here we go again. Opening weakness to start the week as markets are a little concerned about Greece. Or maybe its just pre-FOMC weakness?
Regardless of the 'excuse', things don't get interesting unless we can break <2072... and that is a full 22pts (1.1%) lower. Considering recent price action.. it won't be easy to break under there.
A test of the 200dma (2050s) would be somewhat natural, considering the recent months of tedious price chop. If correct, that might equate to VIX 17/18s.
As ever... for me, I will have particular eyes on the USD... which still looks set for weakness into end month/early July...to DXY 92/90 zone.
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Update from Mr C.
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... as for thrones... well, I think the following reflects the reaction of many....
**NSFW... (but hey.. who can be polite after last night?
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Hopefully, the equity bears won't have to do the walk of shame after the FOMC this week.
Good wishes for the week ahead.
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8.31am Empire state: -1.98, vs prev' 5.80.... a lousy number for the econ-bulls... and again, its a case that a rate hike in the immediate term is extremely unlikely
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9.11am... A great start to the week for TWTR, -1.8% in the $35s... doesn't seem much hope for that until earnings.. or rather.. lack of... in July.
9.19am... Oh great... look who is making a guest appearence...
Things are getting more interesting
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sp' set to open -14pts.... @ 2080... 8pts shy of breaking a new cycle low.
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9.33am.. .. market starting to get rattled.... eyes on the VIX +12% in the 15.40s. Weekly cycle offering 16/17s.
9.39am.. Opening VIX candle has turned black.. Hmmmmm... long day ahead though.
Draghi speaking on Greece.... laughable as ever....