Monday, 29 June 2015

11am update - remaining broadly weak

US equities remain weak, with threat of renewed downside on any sporadic 'spooky Greek news'. At best, equity bears should be able to briefly venture to the sp'2065/55 zone.. where there are multiple aspects of support. VIX is reflecting some concern, +19% in the 16.70s.




So... another minor wave lower...

It remains the case that a reasonable cycle low will be in the sp'2060/50s. Sustained action <2050 looks highly unlikely.
*I am content on the sidelines.  Right now, I'd actually consider LONG-oil, via USO... but not until equity indexes look floored.

11.26am.. notable weakness, USD, -0.3% @ DXY 95.10s.