11am update - 8 years of the 'sensible central banker'

As the market makes a play to break the key 50 day MA - sp'1809, it is kinda disturbing to reflect upon the fact that we have a probable 8 years of the Yellen. Eight...long....years. Metals are trying to break higher, Gold +$14, with Silver +1.0%


sp'daily5

GLD, daily

Summary

Yellen '...I believe I am a sensible central banker'.

Ultimate oxymoron?
--

..and yes, the more interesting action of the day is in Gold, which is managing to rally, despite continued recovery in equities.

11.08am.. a mere 1pt from re-taking the 50 day...

after that..empty air to soft resistance of 1815/20..but really...any daily close >1810..and those hoping for another down wave should be waving a white flag.

VIX melting lower..


11.21am.. and there goes the 50 day MA....

72pts straight up..since the Wednesday low....incredible.


11.24am.. all the remaining shorts getting hit..and another wave of bull chasers are appearing.

Fiercely nasty market...and we're now just 39pts below the historic high..thats  barely 2%.