Thursday 29 May 2014

11am update - minor choppy mess

US indexes continue to hold minor gains, and despite some apparent weakness (most notable in the R2K), the market is still showing the underlying upside pressure. Metals remain weak, Gold -$2, although mining stocks are bouncing, GDX +0.9%.


sp'60min



Summary

A bit of a messy morning.

Bears are being teased..but..with the QE...it is just so difficult to even slip a little.

No doubt, the GDP reading will be something many will dwell on into the weekend..and right now, I find it hard to believe Q2 will be much better.

Q2 reading will not be issued until late July of course..so...equity bulls have a relatively clear run until then.
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Notable strength: AAPL, +$4 @ $628...with the stock split due next week (I think).

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time for an early lunch