US equities are holding broad gains, with the sp +14pts @ 2069. It is notable that the Nasdaq comp' is making a serious attempt to clear major resistance at the 4900 threshold. VIX is confirming the near total market complacency, having broken a new cycle low of 13.19.
Nasdaq comp', daily
We've another oil inventory surplus, but a mere 2.3 million barrels. It would seem anything under 5 million is now treated as bullish for oil. Clearly, the $40 threshold is offering some resistance though.
Right now, a daily close back in the sp'2050s would be something for the equity bears.
notable strength: FCX +3% in the $10.40s, as even the Cramer is touting 'FCX will make it'.
Here in London city...
Spring sunshine, and summer warmth might be just 3-4 weeks away.
time to cook
11.10am.. Metals sure are weak today... Gold -$14... Silver -0.5%.
That is not helping the miners, GDX -1.8%... although not yet negating even half of yesterday's gains.
11.27am... VIX trying to floor from 13.06.
Kinda interesting, but I can't take it seriously until the 15s