US equities are weak, with the sp'500 teasingly close to breaking the daily 10MA @ 2039/40. Metals remain sharply lower, having snapped earlier, Gold -$17, price structure is a large bear flag.. the bigger target of $1000 remains very probable.
*action in the metals/miners remains very volatile. Price structure for both is arguably a large bear flag... with much lower levels still due. If the USD can climb into 89/90s... then Gold will break well under <$1100 before year end.
So... we've hit sp'2040... but a daily close <2038/37 would make things a lot clearer for the remainder of this week.. and most of next. A retrace is well overdue, as even the most permabullish would accept.
VIX update from Mr T.
time for tea....
12.13pm... Something 'odd' is going on in metals land
Crazy swings.. if it can break positive again.. that'd be a real surprise.
12.17pm.... and Gold turns positive.. Someone got hold of the FOMC minutes already, is that it?
back at 2pm... just before the FOMC minutes