Friday, 17 July 2015

3pm update - chop into the weekend

US equities are set for some OPEX chop (if a touch weak) into the weekend, but regardless of the exact close, all US indexes will settle with significant net weekly gains. With the USD +0.2% in the DXY 97.80s, the metals remain under pressure, Gold -$12, with Silver -0.8%.




With no catalyst to knock the market lower, we've seen a clear bounce from rising trend.

For the equity bears... a week to forget.

I'm still guessing we'll see a few days lower, before resuming higher into August.

**The bigger bearish equity/long VIX trade is likely not until we're in the second half of August.

notable weakness, energy stocks, CHK -5.2%, BTU -3.5%, RIG -5.5%

Unless there is some closing hour news....   back at the close

Just noticed this...

Trans, daily

A bit of a bearish spike.. at declining resistance... does bode in favour to the bears next Mon-Wed.