Tuesday 10 June 2014

11am update - morning chop

US equities continue to see minor weak chop, sp -2pts @ 1948. VIX is holding minor gains, +1% in the 11.30s. Metals are holding moderate gains, Gold +$8.


USD, monthly2, rainbow



Summary

*stockcharts is still offline..so no recent charts...
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As for the above chart...well, USD looks floored to me. Monthly MACD (green bar histogram) cycle is starting to turn upward..and it bodes for downward price pressure on ALL $ denominated assets this summer/early autumn.

Of course, that sure doesn't mean equities (or Gold/Oil) can't rise, but the downward pressure IS there, and is important to keep in mind.

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*I hold a small LONG position, WFM, am seeking the 42/43s in the near term.