3pm update - are you fond of sand dunes and salty air?

US equities are set to close broadly flat, although the smaller 5/15min cycles are still offering a small up wave into the close. A daily close in the sp'1950s is most certainly viable. Metals have flat lined since the open... but set for moderate gains, Gold +$7


sp'monthly8 - QE phases

Summary

*a somewhat annoying day without stockcharts...
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The FOMC of next Wed' ,set for QE-taper'5, bringing the QE fuel down to $35bn a month, a mere $420bn annualised.

Certainly, volatility will likely see a minor spike next week, 14/16 zone, but no higher.

VIX 20s look unlikely until at least late July..if not Aug/Sept.
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Meanwhile....on what is a fine summers day in London city...



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*I will hold LONG overnight, via  WFM.


3.26pm... ..and the indexes start to turn green....


Song for ...traders...



yours...cyclical


3.43pm... Nasdaq +..... most other indexes a mere fraction negative. Only the R2K is moderately weak, -0.25%..'noise' in the scheme of things.

VIX still set to close fractionally red.