Thursday, 11 June 2015

11am update - rising resistance

The sp'500 has got stuck at rising trend/resistance @ 2115.. along with VIX flooring at 12.71. A minor down cycle would be very natural.. but regardless, by the Friday close, the market will have viable upside to 2120/22 zone. USD is holding moderate gains, +0.6% in the DXY 95.20s.


UUP, daily2


*Despite the current gains, UUP still looks set for the low 24s into early July.. with DXY 92/90.

Little to add.

Market appears due some weak chop into te afternoon.... but with broader upside into the weekly close.

notable weakness: Sears (SHLD) -1.9%....  a real mess.