Wednesday, 20 April 2016

12pm update - back to square one again

With the sp' breaking a fractional new high of 2106, the equity bears are right back to the start again. The VIX has naturally cooled from the early spike rebound of 13.50... back to the 12.60s. USD is +0.3% in the DXY 94.20s.. and for now, that isn't dragging the metals lower, Gold +$3, with Silver +1.2% in the $17s.




Suffice to add.. this is starting to get real annoying again.

I realise some are touting sp'2116...... and its notable that the Dow has already broken that equiv' level.

notable strength, miners... GDX, daily

With the precious metals on the rise.. the miners are naturally following. If you believe Gold is headed for the 1400/1500s... GDX would likely be somewhere in the $35/40 zone.