2pm update - a 1% swing

US equity indexes are holding moderate gains, with the sp'500 having seen a full 1% swing from the earlier low of 2094 to 2114. New highs look due for all indexes in the days ahead. The weaker USD is especially helping commodities, with Gold +$12, and Oil +0.8%.


sp'60min

Summary

Another day where the equity bears are teased in the morning, only to see a latter day rally.

How many times have we been through this since 2009? 600/700 times?

Market will be prone to a minor down wave into the close, but still... the earlier low of sp'2094 is a pretty good spike-floor. I don't expect it to be broken under, whether on weak GDP data... nor the FOMC announcement of tomorrow afternoon.

--
notable chop.. AAPL

5min cycle

*the opening black-fail candle is a good example of why I particularly keep an eye out for them.
--

Meanwhile... off world.. the Russians appear to have lost a Progress (unmanned) supply ship. From what I gather.. they are probably not going to be able to dock even if they do regain control, due to lack of fuel.


--
back at 3pm