Pre-Market Brief

Good morning. Futures are a little higher, sp +3pts, we're set to open at 2108. USD is seeing a bounce, +0.4% at DXY 95.00s. Metals are naturally under pressure, Gold -$7. Oil is similarly on the slide, -0.7%


sp'60miin

sp'weekly

Summary

*awaiting retail sales data.
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Suffice to say, regardless of any intraday weakness, another net daily gain looks due..

A weekly close in the sp'2120s remains very viable, and if so, it'll likely clarify that a tag of the upper bol' on the weekly (2150/60s).. or even monthly cycle (2170/80s) is due for the sp'500, before a summer rollover.
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notable early weakness, oil/gas drillers, RIG/SDRL, both lower by around -1%
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Have a good Thursday
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8.32am.. Retail sales +1.2%... broadly inline... and at least the econ-bulls can be relieved about that.

Equities holding minor gains, sp +5pts, set to open at 2110.

Metals under pressure from rising dollar, Gold -$8.

USD continues to cool

Whilst equities closed significantly higher, the USD continued to cool, settling -0.6% @ 94.60 (intra low 94.30). King Dollar looks set for the DXY 92/90 zone within the next few weeks before completing a pretty natural retrace from the March high of 100.71.


USD, daily2

USD, monthly'3' outlook

Summary

Little to add from recent posts.

USD remains in cooling mode, and once a floor is solidified, resuming strength in the USD will be a major problem for the precious metals/oil, and to some extent... the US equity market.
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Looking ahead

Thursday will see the weekly jobs, retail sales, import/export prices, bus' inventories, and the Nat' gas report.
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Goodnight from London

Daily Index Cycle update

US equity indexes closed significantly higher, sp +25pts @ 2105. The two leaders - Trans/R2K, settled higher by 0.7% and 1.4% respectively. Near term outlook has turned bullish, with a cycle low of 2072. Further upside into the FOMC of June 17th look due.. if not somewhat beyond to the 2150/70s.


sp'daily5

Dow

Trans

Summary

*Transports remains a clear laggard, I sure don't expect new historic highs in this index for some months.. if not until next year.
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Little to add.

A pretty strong day for the equity bears, not least for the headline indexes of sp'500, Dow, and Nasdaq comp'

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a little more later...