Wednesday, 13 April 2016

1pm update - holding gains

US equities are comfortably holding broad gains for a second consecutive day, having seen a new cycle high of sp'2079, with VIX cooling back to the 13s. USD is holding rather notable gains of around 0.8% in the DXY 94.70s. Gold -$10. Oil -0.2% in the $41s.




Seen on the bigger daily charts, there are clearly still a few levels left to clear, but the past few days of price action are pretty bullish.

A sig' net weekly gain looks highly probable, with next chance of a minor retrace not until after opex.

Even then.. how far could we retrace? At best, the 2040/30s. The 2020/10s look out of range next week, even if lousy earnings start to annoy the market.

.. but hey... with more stock buy backs.. why do earnings matter anyway?


Here in London city...

It ain't bear weather... that's for damn sure.

time to cook