Friday 5 June 2015

12pm update - chop chop

US equities are in minor chop mode, having bounced from sp'2085 to an initial bounce of 2100, a weekly close in the low 2100s looks probable. Transports is showing a notable higher low... viable upside to 8900/9K by early July. VIX is reflecting a market will no concern about the weekend, -1% in the mid 14s.


sp'60min



Trans, daily


Summary

*Fed official Dudley is due to speak this hour, I'm not sure if the media will be paying any attention though
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Suffice to add... things are panning out as kinda expected.

Regardless of the exact close... I do not expect the equity market to unravel at this time.

New historic highs in a few indexes look due in the coming weeks.
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VIX update from Mr T.


 
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time for a cool drink... on what is a rather nice summers day in London city.