Thursday 19 June 2014

12pm update - time for a welcome distraction

US equities are seeing a minor down cycle, but a 'natural' one it is, and there will doubtless be renewed upside into the quad-opex Friday close. Notable strength in the metals, Gold +$23, with GDX building gains, +3.4%. VIX remains fractionally lower.. in the 10s.


sp'60min


Summary

*price structure on the hourly is a baby bull flag......   bears... beware!

So..a minor down wave, and as ever, it remains a mere 'buying opportunity'.
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Meanwhile, yours truly is getting his ass kicked in WFM...


Worse case would appear to be a viable back test in the $40/39 zone. I'm still 'moderately confident' of a subsequent ramp to $48/50 by mid July.

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VIX update from Mr T. (due)


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time for Columbia vs Ivory Coast.... and some lunch