Wednesday, 2 July 2014

1pm update - afternoon chop

US indexes continue to see minor chop - ahead of the monthly jobs data tomorrow morning. VIX remains crushed, -3% in the 10.70s. Metals remain a touch higher, Gold +$2, whilst Oil continues to slide, -0.8%.


sp'weekly8b


Summary

*the attached count on the above should be taken somewhat 'lightly'. However you want to count this, primary trend is higher. Equity bears need a July monthly close <1900, and right now, I don't think that is viable.
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Suffice to say, market is likely to close largely flat today.

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VIX update from Mr P.


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Notable weakness, airlines, UAL, DAL.