US equities open moderately lower, and look set to take out the Wed' low of sp'2087... that will open the door to the target of sp'2065. VIX is not reflecting any real concern though.. stuck in the 14s. There is carnage in precious metals, Gold -$20, set to take out the $1130 Nov' low... within a month or two.
*if I'm right on the Gold.... we'll take out the $1130 low soon... leading to $1000... perhaps 900/875 zone by late summer.. which will make for one hell of a buying level.
So.. we're opening lower in equities... but again... its nothing significant. A break <2087 does look likely though, and I'm most certainly holding to the 2065 target... which is possible late today 'if' the rats sell into the weekend.
Notable strength: BAC +3.6%... no doubt.. due to 'hopes' of a fed rate hike in June. The financials will be the leader across 2016/17.... before the next system blow up.
Weakness: miners, ETF of GDX -4.4%... not surprisingly... as Gold/Silver get whacked.
*..and yes.. the USD continues to soar... +1.4% @ 97.60s.... the giant 100 threshold is due... as Euro implodes.. ahead of more money printing.
10.32am... problem for the equity bears.. VIX, only +2%.... but all things considered... the sp'2060s still look due.
Gold miners continue to weaken, GDX -5.4%