Monday, 8 June 2015

3pm update - another floor attempt

Having failed to hold the Friday floor of sp'2085, the market is now battling upward from 2079. Equity bull maniacs need to see a daily close >2100 to offer some hope that a short term low is in. VIX is reflecting moderate market concern, +5% in the upper 14s. USD increasingly weak, -1.0% @ DXY 95.30s.


sp'60min



UUP, daily2



Summary

*USD is having a pretty bad day for no apparent reason.. other than near term trend.  As ever.. weaker USD will be helping the metals/oil to some extent.. although many would be dismissive of the latter.
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An hour left of what has been a pretty tedious day.

Regardless of the close... I'm dwelling on INTC...   given the current trend.. it should be testing the $29 floor within 3-4 days. More on that one.. after the close.
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notable weakness: airlines, DAL/UAL, both lower by around -4.6%