10am update - minor weakness

US equities open a little lower, but clearly.. this is nothing remotely significant. Metals are sharply lower, Gold -$17, with Silver -5%.. the underlying strength in the USD will always be a problem. Oil is on the slide, -2.2%. VIX is +11%, but still only in the low 16s.


sp'daily5

GLD, daily

Summary

So... we're a little lower, but clearly. it is NOTHING for the equity doomer bears to get excited about.

It is notable we have the MACD cycle on the daily equity index charts starting to tick lower. At the current rate, we'll see a bearish cross tomorrow... or certainly by Thursday.

As ever though.. Market is going to be remain extremely vulnerable to sporadic comments from the ECB/Greek Govt.
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Notable weakness: RIG -3.3%.. having cut its dividend.