12pm update - Trans remains ugly

Whilst the sp'500 is -18pts @ 2107, there is particular weakness in the Transports -1.1% in the 8300s, with a clear break of trend on the weekly cycle. USD continue to hold sig' gains, +1.2% in the DXY 97.10s, which is pressuring the metals and Oil.


Trans, daily

Trans'weekly2

Summary

For now.. it remains just one index breaking the broader trend - from 2012.. but it certainly merits increasing attention.

From a pure cyclical perspective the Trans is due another up wave.. but clearly.. there is ZERO sign of a turn right now.

More than anything.. eyes to the USD. If it doesn't stop rising... then all sorts of interesting things are going to happen.

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notable weakness:  copper miners, FXX -3.5%, with TCK -4.9%

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VIX update from Mr T.



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time for lunch