11am update - morning reversal

US equities have seemingly floored at sp'2085, and have already tested the hourly 10MA @ 2100. A weekly close >2100 looks probable.. along with VIX 13s. USD has significantly cooled from opening highs, +1.0% @ DXY 96.40s, weakness to the 92/90 zone looks probable... which has bullish implications for metals/oil.


sp'60min

UUP, daily2, outlook

Summary

*equity price action is still somewhat weak, but overall.. it doesn't favour the bears, as the hourly/daily cycles are arguably floored.
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So... we have something of a significant reversal already... and it does look like market has floored.

I realise some will be looking for a GREXIT in the immediate term, but I'm guessing that will not occur until late June at the earliest.

*metals have certainly rebounded.. as the USD cooled (note the black-fail candle on the UUP chart)... Gold swung from -13 to -6.. a net daily gain is viable.

I will consider another Gold-short, when DXY 92/90... in 3-5 weeks.

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time to cook