Wednesday, 14 May 2014

1pm update - a steady market

The broader market has stabilised in the low sp'1890s, with a VIX that continues to reflect a market with zero concern of the near term. Metals are cooling a little from the earlier highs, Gold +$11, with Silver +1.1%. VIX is flat in the low 12s.



Little to add, on what is likely to be a relatively quiet afternoon.

Silver with a black candle at the 50 day MA, not exactly bullish!

The declining channel should probably be adjusted a little. Regardless of the minor noise..the broader trend remains bearish.