12pm update - continued weak chop

US equities remain choppy... leaning on the weak side, a daily close under the sp'2100 remains viable.. along with VIX 15s. USD remains weak, -1.2% in the DXY 96.10s. Metals are looking vulnerable, Gold +$3... price structure is a clear bear flag.


sp'60min

GLD, daily

Summary

*considering the drop in the USD, the precious metals are performing badly. Another sig' down day looks due, at least of $15/20.. with GLD in the 112.25/111.75 zone.
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Little to add.. on what is another day of minor swings.

Further downside looks due to the sp'2090/80 zone.. before some kind of Greek agreement is reached.. but that will only can-kick into July or so.
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Interesting guest on CNBC-EU...

Certainly, a 10% drop is very viable.. although some markets - notably China, would be vulnerable to a rather severe 25/30% before resuming higher.
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VIX update from Mr T



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time for tea :)
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12.06pm.. Indexes just jumped.... (news?).... sp'2114.

Resistance is now 2118... a move much above that would really mess up the near term outlook. 

11am update - real twitchy

A minor up wave in the US equity market (for no apparent reason).. and most indexes are only fractionally lower. Regardless.. the market remains twitchy.. highly susceptible to sporadic Greek news. USD remains significantly weak, -1.3% @ DXY 96.10s. Gold is holding moderate gains, +$5.


sp'60min

UUP, daily2

Summary

A core issue remains.. will the USD see another down wave before beginning the hyper-ramp to the DXY 120s?

Best guess?    Yes.. although we might briefly see 98/99s within the near term before the Greeks agree to kick the can into July.

notable strength: oil/gas drillers, RIG/SDRL, both higher by around 5%
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time for an early lunch

10am update - opening weakness

US equities are on the slide, with the sp' losing the 2100 threshold.. and unable to hold the 50dma of 2099. Further downside into the 2080s - along with VIX 16s, looks due. USD is seeing rather significant weakness, -1.2% in the DXY 96.20s (intra low 95.74).  Metals and Oil are naturally being pressured upward


sp'60min

VIX'daily3

Summary

We're certainly seeing some dynamic moves already today.

There is little doubt we're headed broadly lower across today.. and probably into early tomorrow.

Lower trend is offering a daily close of sp -24pts @ 2087.. that'd be likely equate to VIX 16s... which is probably close to as good as it will get for the bears this week.
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notable weakness, airlines, DAL/UAL, both lower by around -2.5%
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stay tuned
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10.01am   Factory orders: -0.4%.. vs prev. 2.1%...  lousy number... nothing good there.


10.31am.. so.. the usual nonsense rebound.. but still... market remains broadly weak.

notable strength.... BTU +9%..... the miners are catching some interest today.... FCX, TCK