Friday, 10 July 2015

1pm update - battling for a net weekly gain

US equities are holding significant gains, with the bull maniacs needing sp'2077 for a fractional net weekly gain. VIX continues to reflect a market that is increasingly confident of another Greek can kick, -13% in the 17s. USD remains weak, -0.6% in the DXY 95.90s.



*Yellen is currently doing a Q & A, and Mr Market is listening....

Little to add.

It does look like the gains will hold into the weekend, the only issue is whether the bulls can somehow manage to claw into the 2080s.. and hold there for the close.

notable strength: QCOM, +1.5%


*I rarely mention QCOM, but probably will in the coming weeks. It looks a valid short in mid/late August.. from around $68. Downside target would be...56/55.. by early Oct'. I like the company in the longer term though.

back at 2pm