Wednesday, 31 December 2014

11am update - moderate gains

US equities are holding moderate gains... with the sp' @ 2084. VIX is notably higher for the third consecutive day... as traders start to ponder the next retrace in Jan/Feb. Metals continue to weaken, Gold -$13, with Silver -3.3%. Oil remains sig' lower, -1.5%.

GLD, monthly2

SLV, monthly2


*taking a look at the metals this hour... across the year.

Another rough year for those in gold bug land. Gold is broadly flat, but Silver/Copper both sig' lower.

The bearish counts for GLD/SLV are broadly unchanged from spring 2012. I'm looking for a key floor in summer 2015.... and then... UP UP UP.

More on those later... on my metal page!

Suffice to say... equity market still looks set for the sp'2100s.... prime zone is 2130/50 by late January.