Closing Brief

Another very quiet day in the US equity market.. although (for the equity bears) there were no new index highs, sp -1.5pts @ 2038. Near term outlook offers a very viable retrace to the 1980/50 zone.. before renewed upside into early 2015.


sp'60min

Summary

Little to add on what was a quiet day.

A great day for ESA, with the landing of the Rosetta probe 'Philae' on the comet. At the very least, it took away a great deal of attention from 'that woman', with the plastic ass.

yours...  100% real.
-

A daily wrap at 8pm EST>

3pm update - weakness into the close

US equities look set for some renewed weakness into the close. The daily 10MA of sp'2024 should be first target for the bears in the remainder of the weak, and that will open up a broader downside retrace target zone of 1980/50 before month end.


sp'daily5

Summary

Little to add...  on what is another rather quiet day.

Right now, bears should be merely looking for a break to the 2020/10s by the Friday close. In scheme of things..not very exciting.. and I certainly won't be meddling in the indexes - either side, for rest of the year.
--

Metals remain weak, Gold -$5, which is keeping the pressure on miners... which I remain short.

2pm update - broader micro chop

The broader US equity market remains seeing broader micro chop, but holding under the recent high of sp'2041. Metals are starting to slide, Gold -$7, which is impacting the miners, GDX -0.9%. The rising USD is not helping, +0.4%


sp'60min

Summary

Not much to add. Pretty tedious overall.... retail sales data on Friday, that is really the only scheduled thing this week.

--

Meanwhile, miners are weak..

GDX, 60min

Kinda interesting... but still.. a long way to fall.