Thursday 9 July 2015

10am update - opening gains

US equities open significantly higher, with the sp'500 already coming close to breaking resistance of 2075. VIX is naturally in rapid cooling mode, -9% in the 17.80s. USD is u/c in the DXY 96.20s. Metals are holding moderate gains, Gold +$6. Oil is +2.4%


sp'daily5



vix'60min


Summary

*opening reversal candle in the VIX.. which is a problem for the bulls...
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So, strong gains... but it remains the case that the market is highly vulnerable to any sporadic Greek news headlines.

It will be important for China to have another a second consecutive net daily gain.. to conclude the week.

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*opening reversal in INTC..  swinging from the $29.80s to the 29.20s.... I've no idea why. Core support remains the $29s... that had better hold.. or its a major problem.