sp'daily5
sp'weekly7
Summary
*note the upper bollinger on the weekly cycle, still offering the 2140s in the near term.
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Well, now its seemingly a case of whether we'll see a net weekly gain.
A break above 2110 will be important, but more so, 2117. If the latter is achieved, we should be trading in the 2135/45 zone by end month.
Best guess... new historic highs in some indexes, but the Trans/R2K are probably an early warning of 'summer trouble'.
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The continuing weakness in the USD is no surprise, but we're clearly VERY vulnerable to flooring in the DXY 93/92s.
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*awaiting weekly jobs data... but more so.. PPI data.
Have a good Thursday
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8.32am.. sp +12pts, 2110... back to the Tuesday high.
Jobs data were arguably 'fine'... PPI was -0.4%... but then... lower prices are good for some.
Metals are cooling a touch, Gold back to flat.... although it is notable Gold was -$6 overnight.