Tuesday, 23 February 2016

10am update - opening black fail for the VIX

US equities open moderately lower to sp'1935, but the opening black-fail candle for the VIX is highly suggestive that we're still set for the 1950/60s in the near term before any chance of a retrace into end month. Metals are holding early sig' gains, Gold +$12, with Silver +0.7%.




It should be clear to most.. there simply isn't any real downside power.. and we're set to resume higher.

notable strength... miners

GDX, daily

The mining ETF breaks a new multi-month high. The lower red zone now looks increasingly out of range... even if Gold cools to $1180/70 by mid March. Broader upside target for April/May... $25/26.

stay tuned