2pm update - a teasing bounce?

US equities have built moderate gains to sp'2013... but in the scheme of things, this is probably just a tease to the bull maniacs. A hit of the 200dma of sp'1973 is more probable than not. Meanwhile, metals remain severely weak, Gold -$27, with Silver -6.3%


sp'60min

GLD, daily

Summary

*The precious metals remain especially dynamic... and appear to be unravelling, having put in a multi-week peak.
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So.. another little bounce.

Equity bulls need to break sp'2022 at the close to have any real hope that a brief test of the 200dma is not on the menu before the weekend.
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Notable weakness: DRYS -7.5% @ $0.89... a new all time historic low I believe