Monday 18 May 2015

3pm update - a third day for the bulls

US equity indexes look set to close higher for the third consecutive day.. with Dow 18300s and sp'2130s. USD is continuing to build sig' gains of 1.2% in the DXY 94.20s. Metals are under pressure from the rising USD - but holding up relatively well, Gold -$1.


sp'daily5



GLD, daily



Summary

*Gold was set for a fifth consecutive net daily gain..  but is clearly under some distinct pressure as the USD just keeps on climbing today.
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Without question.. a day for the bulls, with notable new highs in the Dow and sp'500.

Yes the Trans is badly lagging, but with the Nasdaq comp' just 1% from breaking the tech' bubble high... this remains no market for anyone to attempting to short.
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notable weakness (one of the few)... coal miners, BTU -7.8%..

strength: AAPL +1.4%... as the mainstream start pondering about what $240 might imply for the main market.
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back at the close...