Friday, 8 May 2015

2pm update - cooling a little

US equities are naturally cooling from the earlier high of sp'2117. A weekly close >2108 looks probable.. which would make for a minor net weekly gain. Metals are moderately higher, Gold +$6.. but looking vulnerable next week. Oil is holding sig' gains of 1.1%.


GLD, daily


*price action in the metals remains broadly weak, with a black-fail candle on the daily cycle. I am short GLD, and have little concern about holding across the weekend.

Well, just two hours left of the trading week.

Typically.. the weakness will continue into the usual turn/floor time of  2.30pm.. with a little strength into the close.. as equity bears close out for the weekend.

notable strength: AAPL +1.7% in the $127s... the 130s look due next week

2.28pm.. Market set to level out around sp'2112/10 zone.... with a little renewed strength into the close.

VIX looks set to close in the 12s... reflecting a market that has ZERO concern about a GREXIT in the immediate term.