Thursday, 30 July 2015

10am update - opening weakness

US equities open moderately lower, as Q2 GDP (2.3%) marginally disappoints the mainstream. With the USD +0.6% in the DXY 97.50s, commodities are under pressure. Gold -$12, with Silver -0.7%, whilst Oil is -0.5% in the $48s.




*I do like my 'rainbow' Elder impulse charts.... we have a nice green candle on the VIX hourly to start the day :)

Well, we're in the tail end of the month... and as I noted last night.... the monthly closes will be rather important.

As it is... the sp'500 should comfortably hold above the 10MA (2066)... but other indexes are already busted.

notable weakness: AAPL -1.0% in the $121s.. a loss of 120 would be a major warning of trouble for the broader market into August.

FB -4% in the $93s.. as the Cramer can't believe how cheap it is, lol

stay tuned!