Wednesday, 30 March 2016

11am update - continued bullish sunshine

US equities are holding broad gains, with the sp +14pts @ 2069. It is notable that the Nasdaq comp' is making a serious attempt to clear major resistance at the 4900 threshold. VIX is confirming the near total market complacency, having broken a new cycle low of 13.19.

Nasdaq comp', daily



We've another oil inventory surplus, but a mere 2.3 million barrels. It would seem anything under 5 million is now treated as bullish for oil. Clearly, the $40 threshold is offering some resistance though.

Right now, a daily close back in the sp'2050s would be something for the equity bears.

notable strength: FCX +3% in the $10.40s, as even the Cramer is touting 'FCX will make it'.

Here in London city...

Spring sunshine, and summer warmth might be just 3-4 weeks away.

time to cook

11.10am.. Metals sure are weak today... Gold -$14...   Silver -0.5%.  

That is not helping the miners, GDX -1.8%... although not yet negating even half of yesterday's gains.

11.27am... VIX trying to floor from 13.06.


Kinda interesting, but I can't take it seriously until the 15s