Tuesday, 16 June 2015

1pm update - clawing higher

US equities are continuing to claw slowly higher, with a viable daily close in the sp'2090/2100 zone.. along with VIX in the upper 14s. USD is holding moderate gains of 0.3% in the DXY 95.00s. Metals remain weak, Gold -$5, with Silver -0.6%


GLD, daily


*metals are getting some increasing attention again. I remain resigned to Gold $1000... and if the USD does break new multi-year highs (> DXY 100.7)... the metals (and probably oil too), will be under severe downward pressure.

Not much to add. A relatively quiet afternoon is likely ahead... with increasing minor chop all the way into tomorrow afternoon.

For most.. its now a simple case of waiting for the FOMC... along with the Yellen.

We could be looking at a situation where the market initially spikes on the 2pm press release... but then slides once the Fed chair starts yapping about how 'the fed will do what is necessary to meet its dual mandate'.

Got popcorn for tomorrow?

notable weakness: TWTR -2.6%... no real support until the psy' level of $30.00
back at 2pm