2pm update - USD remains in cooling mode

Whilst the sp'500 is battling to hold above the 10/50dmas.. and the 2100 threshold, there is notable weakness in the USD, -0.5% in the DXY 94.60s. Broader downside to the 92/90 zone looks due into July, before a hyper ramp into the 120s. The implications for metals/oil should be pretty clear.


UUP, daily2

GLD, daily

Summary

*Gold seeing the third consecutive net daily gain.. although today's black-fail candle is not exactly super bullish. A move to the 116/117s looks viable.. if DXY 92/90. From there.. it will be time for another GLD short.
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We've the retail sales data tomorrow.. and if Mr Market likes that, we'll be trading in the 2120s before most realise it.

notable strength: NFLX +4.6%.. although cooling from the earlier highs.