Thursday, 26 February 2015

1pm update - it remains subdued

US equities remain largely subdued, although still achieving new highs in a few indexes. Metals are holding moderate gains, Gold +$5, but looks vulnerable into the Friday close. Oil continues to slide, -3.1% in the $49s. VIX is showing zero sign of market concern, -1% in the 13.60s.


GLD, daily


*another black-fail candle for Gold, and some weakness into the Friday close looks very viable. Regardless, February was a bad month for the gold bugs.

Not much to add... it remains a very dull market. I'm resigned to broad upside into late April/early May... and then the first chance of a more sig' drop.

Notable weakness: CHK -4.9% in the low $17s, unravelling... and looks ugly to the 12/10 zone this summer.
time for a late lunch... back at 2pm