sp'60min
Summary
.... little to add.
Awaiting the monthly jobs data @ 8.30am.....
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Update from Oscar
Kinda unusual to see Oscar start turning bearish after just a minor down wave from 2134 to 2093, although I realise he is focusing more on the style of price action than actual levels right now.
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End week doom chatter from Hunter
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Have a good Friday.
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8.31am.. Monthly jobs data: 280k net gains, headline rate: 5.5%
Market is NOT happy about it... indexes snap lower... metals ain't happy either... Gold -$11
So.. its a case of 'good news is bad news'.
sp -8pts.... 2087
USD soaring...... +0.9% @ 96.30s
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8.36am.... secondary bounce wave.... sp -3pts... but overall.. we're set for a negative open... pressured by a higher USD.. as market is now concerned about rate hikes.
8.40am Gold -$9... I am short Gold - via GLD, will look to exit at the open, as I fear a Euro bounce back next week.
9.05am.... chop chop... sp -3pts... 2092.... it'd seem we'll slip to the low 2080s today... but I do NOT expect sustained trading <2070.
*I've a tight stop on a Gold-short... will likely get kicked at the open.
9.23am.. sp' set to open FLAT.
Equity bears should be mindful of a reversal anywhere in the 2090/85 zone...
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Gold -$12... looks like I might get to tighten my stop :)
9.33am.. KICKED from GLD-short. :)
9.35am.. sp'2090.... there will be some sig' support here.... equity bears... BEWARE!
9.39am.. Eyes on the VIX... +5% in the mid 15s.... 16s looking tough...
It does look like we'll level out in the 2080s... and the nonsense resumes higher next week.. and at least into the next FOMC (June 17th).