Thursday 19 June 2014

10am update - opening gains

US equities continue to push higher, with new highs for the sp'500 and NYSE Composite. The metals are strong, Gold +$18, which is helping the miners - the ETF of GDX +2.4%. VIX is melting lower, and the 9s are viable by the Friday close.


sp'daily5


Summary

Suffice to say, we're still pushing upward, and no doubt, this mornings sig' QE is going to help negate whatever minor sell side volume there is.

Daily charts will be offering 1970 tomorrow, but weekly charts remain restrictive to the upper 1950s this week.

For the bulls, its probably a case of churn sideways across the two days.

-
I am having a lousy start, both CHK and WFM are getting knocked lower, and time is running out for WFM, before the next equity down wave next week. Its not looking good.
-