12pm update - somewhat tedious chop

US equities are back to chop mode, although this remains a strong performance considering the sporadic headlines from Greece. Metals remain in cooling mode, Gold -$14, with Silver -1.9%. With equities in chop mode, the VIX is naturally in melt mode, -2% in the mid 16s.


sp'60min

GLD, daily

Summary

*I'll have more to say on the metals later, but suffice to say.. a key multi-year floor does not look in yet.
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Rest of the day... choppy.. but with underlying upside.. ahead of the Tue/Wed FOMC meeting.
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VIX update from Mr T


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time for tea... back at 2pm