Thursday, 14 April 2016

12pm update - rainbow before the storm

US equities remain in minor chop mode, and other than the pure cyclical issue that we're due at least a minor cooling phase, there appears little to motivate the market for the rest of today. With the USD +0.2% in the DXY 94.90s, the metals are under pressure, Gold -$15, with Silver -0.8%. Oil +1.0% in the $41s.


GLD, daily


The new fractional high of sp'2085, is a mere 49pts (2.4%) from the May'2015 high.

So... which is it.. a huge massive bullish breakout, or an epic fail? I suppose you could argue we'll just see continued swings - much like 2015, but the bigger monthly cycles would argue its something far more dynamic.

Here in London city...

Awaiting some storms to arrive from France, although a few domestic ones have already developed. There is even some kind of rainbow (which is unusual considering how high the sun is), but where is the unicorn?

time to cook