Monday, 10 August 2015

2pm update - market clawing

US equities continue to claw higher, with a new intra high of sp'2103, with VIX in the low 12s. Metals are holding sig' gains, Gold +$12, with Silver +3.6%. Miners are similarly holding most of the gains, the ETF of GDX +4.4%. Broadly though, metals/miners do not look floored on a multi-year basis.



Little to add.

Clearly, the mainstream is back to 'new highs are coming' mantra.... and extremely relieved the Dow won't fall for an 8th day.

I'm still guessing.. this is a mere bounce.