Wednesday 3 December 2014

10am update - King Dollar in the 89s

US equities open a little higher, although so far... no new historic highs. The USD remains notably strong, +0.4%.. breaking into the 89s for the first time since March' 2009.. when things sure were 'different'. Metals are catching a bounce, Gold +$6


sp'daily5


Summary

*I'll cover the USD in depth after the close, but the 89s.. are a VERY important level.

The March'2009 high was 89.11.. after that.. its the 2005 high of 92s.
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So... we're a little higher...and frankly.. its getting tedious. Where the hell is even a basic retrace to 2020/00..or even 1980?

.. and this is why I'll have no part in attempting index shorts in the near term.. waste of time.. and money.
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Notable weakness.. TSLA -2%
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10.01am  ISM service sector 59.3...  very reasonable number.

Who wants to buy sp' at 2070?  Urghhh...