12pm update - fractional new highs

Equities remain stuck in what is essentially algo-bot melt mode, with fractional new historic highs in the Trans and the sp'500. Metals remain weak, Gold -$10, with Silver -1.4%, with a particularly bearish outlook for June. VIX looks set to close May in the 11s.


GLD, monthly

Trans, monthly

Summary

*ignoring the smaller cycles....ohh, and don't get overly fixated on the GLD wave count. Point is...trend remains broadly lower, right?

Gold/Silver look VERY bearish for June, with the 2013 lows set to be broken.
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VIX update from Mr T. (due)



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time for tea