Wednesday 10 June 2015

10am update - opening gains

US equities open moderately higher, with the sp'500 making a serious attempt to retake the 2100 threshold, where there are multiple aspects of resistance. USD continues to cool, -0.6% in the DXY 94.60s. Metals are naturally climbing, Gold +$11, with Silver +0.6%. Oil is +2.6% in the $61s.


sp'daily5



UUP, daily2



Summary

*I remain more focused on the USD than anything else. Once the current down wave floors (probably a few weeks away)..  the metals/oil.. and perhaps equities will all have maxed out for the summer.... from there.. things get real interesting.
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So.. opening gains, and now its case of whether we get a daily close in the 2100s.. although it doesn't necessarily have to happen today.

notable strength: +3.9% @ $671.... I would guess the PE is somewhere around 300 now.

oil/gas drillers, RIG/SDRL, both higher by around 3%... if Oil can break/hold $62... energy stocks will get a particularly strong kick higher.
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weakness:  TSLA -2.2%... as some traders again start to wonder if the company will ever make money.
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10.32am.. Equities holding gains....

Oil inventories -6.8 million barrels... inline with the API report.

Oil holding the $61s... set for 63s.. and then 65/67.. where they are multiple aspects of resistance.
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Momo chasers are out in force today.. NFLX +5.8%  @ 684.... as the stock is due a split... which will bring even more chasers in.