Thursday, 11 June 2015

10am update - opening gains

US equities open moderately higher, sp +7pts @ 2112, with the VIX reflecting a market of renewed confidence, -2% in the 12s. USD is seeing a bounce, +0.7% @ DXY 95.30s, and that is arguably impacting the metals Gold (-$7) and Oil (-0.5%).




There should be little doubt now, we're already a full 2% above the Tuesday cycle low of sp'2072.

New historic highs in the sp'500/Dow look probable... into end month/early July.

First support is the 2100 threshold, a net weekly gain looks likely. The only thing that could spoil the party would be if the Greeks announce they won't concede any further.

notable weakness, oil/gas drillers, RIG -2.6%, SDRL -1.5%, as oil cools.
back at 11am