Monday, 13 July 2015

10am update - approaching gap zone

US equities open higher, and are building gains toward the price gap zone of sp'2098/2101. VIX is naturally cooling, -12% @ 14.70s. USD is +0.6% in the DXY 95.50s. Metals are naturally weak, Gold -$10, with Silver -1.4%. Oil is similarly weak, -1.1% in the $51s.




*the above VIX chart is something new, and I will be frequently referring to it across the next few months.

Best guess... VIX cools for 2-3 weeks... levels out.. and then UP. Whether some indexes can break new historic highs between now and August.. difficult to say.

Busy morning... bear with me.....

As things are... market looks set to max out around sp'2100... and then cool to the 2090/85 zone... forming a bull flag... taking us into early Tuesday.

notable strength:  NFLX +3% @ $701.... the momo chasers are out in force.

weakness, miners.. GDX -1.5%... as the metals slide... not helped by USD strength.