Monday, 30 June 2014

11am update - no downside pressure

US equities remain seeing minor chop, but the underlying upward pressure is clearly still an issue. With the weekly cycle now offering sp'1975/80 in the immediate term, equity bears have little to look forward to until at least late July.



*for much of today, I think I'll stick to bigger picture weekly/monthly charts. Seems little point in daily/hourly charts.

Little to add... on what looks set to be a relatively quiet 3.5 day trading week.

*we get the new QE-pomo schedule for July at 3pm.. something to check later, possible QE tomorrow, Wed, or Thursday.

Coal miners remain weak, BTU -2.1%