Wednesday 13 April 2016

1pm update - holding gains

US equities are comfortably holding broad gains for a second consecutive day, having seen a new cycle high of sp'2079, with VIX cooling back to the 13s. USD is holding rather notable gains of around 0.8% in the DXY 94.70s. Gold -$10. Oil -0.2% in the $41s.


sp'daily



VIX'daily



Summary

Seen on the bigger daily charts, there are clearly still a few levels left to clear, but the past few days of price action are pretty bullish.

A sig' net weekly gain looks highly probable, with next chance of a minor retrace not until after opex.

Even then.. how far could we retrace? At best, the 2040/30s. The 2020/10s look out of range next week, even if lousy earnings start to annoy the market.

.. but hey... with more stock buy backs.. why do earnings matter anyway?

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Here in London city...


It ain't bear weather... that's for damn sure.

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time to cook