12pm update - moderate weakness

US equities are seeing renewed weakness having cooled from a morning high of sp'1927, as the market is set to churn ahead of the monthly jobs data. USD remains broadly weak, -0.6% in the DXY 96.60s. That is clearly helping the metals, Gold +$11. Oil remains very unstable, -0.8%.


sp'60min

VIX'60min

Summary

Not much to add.

I realise some are getting twitchy to launch a market re-short, but the big daily/weekly cycles are still offering a break above the Monday high of sp'1947.

It won't take much to hit the 1950/60s next week..as Yellen will probably try to placate the market with talk that the economy is still growing, and that the Fed has everything under control.

Maybe she'll even issue a threats of 'renewed easing if conditions merit'.  Yeah... that'd give the market an excuse for a brief spike upward.


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VIX update from Mr T.



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time for lunch