2pm update - afternoon chop

Another minor down cycle have broken a short term low of sp'2074... along with the VIX spiking to 17.73. Overall though, it remains 'minor chop' for the broader market. There is very notable strength for retail stocks. Metals and Energy remain very weak.


sp'60min

GLD, daily

Summary

For the gold bugs.... a lousy end to the year.... Gold around $1180... downside target remains the giant $1000 threshold.. if not 'prime zone' of 900/875 by mid 2015.
-

Notable strength: HD +1.2%... a monthly gain of around 7%... very impressive.
--

Keep those end 2015 targets coming in.... See HERE... the list will be published New Years day.

back at 3pm