1pm update - weaker USD helping the relics

Whilst US equities have cooled a little from earlier highs, there is notable strength in the precious metals. With the USD -0.4% in the DXY 96.50s, the metals are seeing some natural upward pressure, Gold +$27, with Silver +4.5%. Oil remains u/c though... but holding within a broader upward trend.


GLD, daily

USO'60min

Summary

Little to add.

I'm beyond tired of seeing borderline hysteria on any down swing of 0.5%.. its frankly lame.

We're now at the stage where if the market is not breaking a new historic high every few hours, the top callers have the guile to crawl out of the trenches.

Incredible denial... and no doubt, it will only get worse.

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notable weakness: Dow stocks:  MCD -1.7%.  HD -1.3%