Wednesday 11 June 2014

1pm update - the minor chop continues

US equities remain moderately lower, but price action is no different than the previous few weeks. Sp'500 looks set to hold the 1940s, before resuming a slow push higher into next week.


sp'60min


Summary

*I am reading a few top callers out there, I can understand why some are calling it, but I just don't see how the market is going to weaken for at least another month.

Ohh, and by 'weaken', I'm talking about more than 3% lower..back under sp'1900, and I don't even think that is viable after the FOMC.
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*WFM is annoying today, -1.4% in the mid $41s, I'm still seeking the 44s. Lately, I've next to zero patience. If I weren't posting, I'd turn off my screen and come back next week.