Tuesday, 12 April 2016

3pm update - still building gains

US equity indexes continue to grind upward, above soft resistance of sp'2060, with the VIX on the edge of losing the 15s. USD remains broadly flat around the DXY 94.00 threshold. Metals are mixed, Gold u/c, whilst Silver +1.6%. Oil has built powerful gains of 4%.. back into the $42s.




A very annoying day...and unlike yesterday afternoon, there is currently zero sign of a turn/renewed cooling.

The 2075 high is not looking so secure anymore.

If the market likes the next set of inventory reports... the bears are going to get washed out.... without even seeing a basic retrace to the 2020/10s.

notable movers...

CHK +34%
SDRL +26%

.. both stocks remain utterly smashed though... and SDRL is ironically barely half of the price it was from the most recent hyper ramp.

back at the close