Monday, 13 July 2015

1pm update - minor cooling

Most US equity indexes are holding somewhat significant gains for the second consecutive day. A daily close above the hourly 10MA - sp'2090 by the close.. would offer strong support for a weekly close >2100. USD is building gains, +0.7% in the DXY 96.60s.



Little to add.

A minor down cycle... not surprising... and whether the market melts to the 2085/80 zone early tomorrow should make little difference to those broadly long.

Market looks set to climb for a few weeks into early August.

notable strength: DIS, +1.2%.... Ant Man will be helping.

The 120/125 zone looks a given with next earnings.. before rolling lower.. with the broader market. However, what should be clear, regardless of main market downside.... DIS remains extremely strong.. and will hold up much better than almost all other stocks.

back at 2pm