10am update - opening chop

US equities open moderately mixed, with an early low of sp'2122. USD is battling to turn positive, and that is pressuring Gold, -$5. Oil is building sig' gains of 2.1%.. back above the $60 threshold.


sp'60min

GLD, daily

Summary

*the early declines in Gold are interesting, and I would like to see the $1200 threshold closed under today.
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Another relatively quiet open... although still econ-data to come...

PMI manu'  53.8.. vs 54.6...  yet another weak data point.

Existing home sales 5.04 million... well below market exp'.
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Equities remain in minor chop mode. Hourly cycles favour another wave higher... rather than some pre-holiday washout.