Thursday 5 June 2014

11am update - minor chop

US indexes are seeing some minor chop after breaking new historic highs. There remains high probability of a further push to 1940/50....by late Friday morning. From there...a reversal seems likely. Metals are holding gains, Gold +$9


sp'daily5


Summary

*I am resolutely trying not to get lost in the minor noise, as some seem to be.
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With the QE  this morning of $2-3bn, I have to believe we'll battle higher, with a net daily gain.

Where things get interesting is tomorrow, but more on that later...

Time to shop!
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11.28am.. back from shop... to sp'1933....and the 1940s look an easy target for early tomorrow.

The only issue is can the market spike too far..too fast...to 1945/50..and then see a swift 'Friday jobs reversal'...

right now..I'd give odds of 65% of that....and I will consider an index short early tomorrow.