Monday 7 July 2014

10am update - morning weakness

Equities open moderately lower, but with sig' QE this morning, equity bears will be lucky to get a daily close in the 1970s. Metals are a little weak, Gold -$6. VIX is 9% higher, but still...only in the 11s.


sp'weekly8b


Summary

It is notable that the upper bol' on the weekly is now the 1990s.  Certainly, 1990/95 is viable in the immediate term. I'd still guess 2000 won't be hit until at least next week.
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As noted at the weekend, there really isn't much of significance this week. The 1900 threshold is a relatively long way down, and I sure don't see that being violated for a few months, if not the rest of the year.


*naturally, WFM is lower by almost -1% to start the week. Great. Just.. great.
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time to shop...