11am update - equity market building a bull flag

The market is just churning out a bull flag on the 15/60min index cycles, and with heavy QE today and tomorrow, a weekly close in the sp'1820s looks likely. VIX has already broken into the 12s. Metals remain exceptionally weak, with spot gold prices in the $1100s.


vix'daily3

GLD, daily

Summary

All the broader trends remain on track..including for the precious metals.

As expected, we're seeing end year weakness in the metals..along with the miners.
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notable weakness in Ford, which looks headed for the low 14s - regardless of strength in the main market.