sp'daily5
Summary
Well, without question, its white flag waving time.
The 'old leader' - Transports, broke a new high on Tuesday, a new historic high for the Dow looks set at this mornings open.... with the sp'500 set to follow.
VIX will no doubt drop into the 13s.. if not the 12s.
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re: Metals.
Gold has taken out the June 2013 low of $1179. There is now empty air to the giant $1000 level.. which is possibly as early as next week.
Miners are naturally continuing to crash, in early trading, the ETF of GDX -3% in the mid $17s... headed for 15/14.
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Update from Carboni
No doubt Oscar is (justifiably) very pleased with himself, and his original target of the sp'2100s are again viable by year end.
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Well... with the down wave from 2019 t0 1820.. bears had a chance. A bounce into the mid 1900s was expected. We saw that... but it has just kept on going. This morning we're set to break new highs... and without question... its white flag waving time.
For the equity bulls, this is one hell of a Halloween treat.
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8.48am... Metals continue to weaken... Gold -$32, with Silver -3.7% Miners GDX' -3.9%
sp +20pts... 2014
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Notable weakness, Oil -1.4%... but then.. that is bullish US economy/consumer..right?
9.21am.. sp +25pts.. we're set to break a new historic high at the open of 2019/20.
Gold -$34.... miners GDX -5.0%.....
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9.39am.. Opening reversal candle on the VIX..... interesting...