1pm update - tiresome Thursday

US equity indexes remain moderately higher, with a probable daily close above the sp' 2K threshold. VIX is naturally cooling, -5% in the low 17s. Metals are strong - relative to the USD, Gold back to u/c. Oil is making an attempt for a key turn.. despite supply issues remaining an underlying problem.


sp'daily5

USO'60min

Summary

Little to add.

A down wave from sp'2022 to 1990.. and we're set for a daily close back >2K.  The 2030/40s look due next week.

Right now.. best case upside to sp'2060 looks viable no earlier than FOMC week.

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Here in London city...

New houses.. under the sun

There is a huge amount of construction across the metropolis as there remains a chronic housing shortage... not least caused by mainland Europeans outbidding the domestic population.

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back at 2pm