Wednesday, 18 May 2016

1pm update - churn ahead of some fedspeak

US equities remain in chop mode.. ahead of the latest FOMC minutes (2pm). USD remains notably higher, +0.2% in the DXY 94.70s. An extra ramp into the late afternoon - to the DXY 95s, would likely spook the main market.. although financials would viably hold gains.



Little to add.... as we're set for another hour of churn.. before the algo-bots get to digest a press release from Print central.

Renewed weakness into the close looks probable (keeping in mind the bigger daily/weekly cycles) although breaking the earlier spike low from 2039.99 will not be easier. Far more viable tomorrow.

Best guess.. increasing renewed weakness in the closing 90mins of the day.

On CNBC, O'leary.. who is on the 'rate hike is back in play' train.

If sp'1970/60s.. I'd imagine he'll drop that outlook... much like the others will.

re: 'consumer data'... maybe he should go talk to the staff at TGT or WMT?

notably stuck.... BA, daily

A very fair representative for the broader market.. utterly stuck... with higher probability of sig' cooling, than a bullish breakout.