Wednesday 13 May 2015

2pm update - a funfair, a drill rig, and a permabear

US equities are battling to build minor gains, sp +3pts @ 2102. USD remains broadly weak, -1.0% @ DXY 93.50s. The precious metals are holding very significant gains, Gold +$22, with Silver +3.8%. Oil is holding moderate gains of 0.8%, in the WTIC $60s.


Meanwhile... in the world's financial capital of rehypothecation






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*the drill rig is not actually for Oil, but preliminary housing development. Yes... London clearly needs more housing, as 13,870 people per square mile (2013 data) is not high enough.
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As for the markets, there is little to add.

It would still seem we'll tag the upper bollinger on the weekly cycle.. which is in the sp'2140s. From there.. things might finally turn in favour of the bears.

notable strength: GDX +2.5%, not surprising, considering the gains in the metals.
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back at 3pm