US equities have cooled from sp'2076.. to 2066. Price action remains shaky... as the Greek situation remains unresolved - despite the somewhat increasing confidence that a resolution is due. USD is cooling, -0.8% in the DXY 95.80s. Commodities are slipping, Gold -$2, with Oil -1.0%.
re: USD. A break of trend.. sub $25s would offer clarity that renewed downside into August is due.. the low 24s would be a valid target.. before the next grand wave higher into next year.
A weaker dollar of course, should help prop up most asset classes... at least to some extent.
So.. here we are again... equities cooling -0.5% in the first 90 minutes.
The opening VIX reversal candle was indeed a warning, but unlike yesterday, I just don't think the recent sp'2044 is going to be broken under.
*It increasingly annoys me though.. how the US market is hostage to almost ANY sporadic Greek related news headline. Its really tiresome... after FIVE years.
notable strength: AAPL, +2.3%
Bulls should be seeking a move above $125 across the next week or two... not least with earnings (Tue, July 21st).
11.22am.. Well, unlike yesterday, we're pushing back higher... with VIX -14% in the 17.10s...
notable strength: airlines, DAL/UAL, both higher by 3.8%