Tuesday, 16 February 2016

11am update - bear market under construction

US equities remain broadly higher, but as ever.. there are sellers out there, already cooling the sp'500 from an early high of 1887 to 1876. It is notable that the VIX is so far relatively holding up, -2% in the 24s. Metals remain in cooling mode, Gold -$23, with Silver -2.5%.



Little to add.

Without getting lost in the minor noise, I'm merely inclined to call today, day'3, of a possible 20 day bounce/rally.

notable weakness.. miners, GDX, daily

Not surprisingly, despite a broadly higher market, the gold/silver mining stocks are significantly lower, as the precious metals are cooling from last week's hyper gains. The 200dma should hold into mid March, along with Gold $1180/70.

Here in London city...

... much like the bear market......... under construction.

time to cook