12pm update - Yellen not helping metals

With Yellen continuing to talk, the precious metals remain weak. Gold has seen a key break below key rising support, -$9. A break of the $1130 low from November seems a given.. with $1000 this coming late spring/summer.


GLD, daily

Summary

Little to add... whilst the Yellen continues.

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VIX update from Mr P.


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time for tea
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12.17pm.. Yellen finally wraps up....

Equity hourly cycle looks maxed out at 2116... so.. lets see if we remain stuck for rest of the day.

*notable weakness, oil/gas drillers, RIG/SDRL, both lower by around -3%