Monday 2 June 2014

1pm update - Transports pushing higher

A choppy Monday, with the 'old leader' - Transports is pushing higher, in new historic territory. Equities look moderately vulnerable, but the broader trend remains...UP. Meanwhile, metals remain weak, Gold -$6, with a further 45/50 of downside viable in the near term.


Trans, daily


Summary

Little to add.

Market looks set for general upside into Wed/Thursday.
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I can't be shorting this nonsense, but neither am I okay to go long the indexes at these levels.

Oh well....

*as for the ISM data revisions...someone should be fired for that basic level of repeated incompetence. As it is, I'd guess they somehow gravitate their way into a government position...US Treasury perhaps?