US equities remain in micro chop mode. What should be clear, equity bears still lack any downside power, whilst the bulls are arguably exhausted from last weeks high of sp'2056. VIX broke to 16.04 in early trading, but the 14s.. even 13s look viable with the Yellen tomorrow.
re: Gold, remains increasingly weak. Mr Market would probably like to wash the $1200 long-stops out, before the next move to the $1300 threshold. Note the current black-fail daily candle, it does not bode well for tomorrow.
Little to add, on what is a naturally subdued day.
Things will unquestionably liven up tomorrow lunch time, as Yellen will be get blanket coverage on clown finance TV.
Here in London city...
In one of the many property developements in the city, most homes are still being sold well before the associated new roads are even finished. Outside the city - in most surrounding dormitory towns, its not much different either. Chronic shortages... not least partly due to the legal (and otherwise) immigrants buying.
Yes, the 'super high end' in the core of the city has cooled, but the mid/low tier remains very strong.
Anyone on even an average income (London: $50,000 or so) have become priced out of the city. Its not a good situation.. unless you're already an owner.
*in case you are curious, typical UK 'property tax' - levied annually to all homes in the UK, whether owned or rented, is roughly $2000 for a 1-2 bedroom, to around $3000 for 3-4 bedroom.
time to cook