10am update - the cheerleaders get their third day

US equities are battling to build significant gains for the third consecutive day. Indeed, perhaps most notable is how the cheerleaders on clown finance TV are getting overly pleased that the market is actually able to string three positive days together. Sp'2K, now, right?  That is what they are trying to convince themselves.


sp'daily5

VIX'daily3

Summary

Note the 50dma... and the upper daily bollinger on the equity chart, at the current rate of increase we'll hit that by Friday or more likely.. next Monday.

For me.. that will make for a VERY comfortable level to start hitting buttons.

Gold is bouncing $10... but still looks set to cool some more.. 1180/70 looks probable before a move to the $1300s.

GLD, daily

Underlying MACD cycle remains extremely high... a lousy place to be long. If Gold is to break back below the Dec'2015 low of $1045... then a bigger retrace to around $1150/40 (GLD 110/109) is arguably needed.
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*keep in mind.. there is no oil report this morning... due to the holiday.
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time to shop... back soon......