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

Summary

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