10am update - new week.. new highs

US equities start the last week of May with another set of new historic highs. The R2K/Nasdaq are similarly pushing higher. Precious metals are weak, with Gold -$16. Any break <GLD 122 ( a mere $8 lower), will open the door to another $70 lower in spot gold prices.


sp'weekly8

GLD, daily

Summary

*yes yes, the VIX is higher, but 3% of 11 is NOTHING.
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Suffice to say, the upward push continues.

Candle'7 ..green, and upper bol' is offering 1920s tomorrow.
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I realise some might be shorting this, but considering the underlying momentum, this seems overly risky.

R2K is suggestive of 1170/80..which would likely equate to sp'1940/60 zone...minimum.
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Notable strength: drillers, DO, RIG, SDRL, not that I am involved with those anymore.