11am update - precious metals and equities set to reverse

Despite opening gains (if moderate) both precious metals and the broader equity market look set to resume lower from current levels. Oil remains broadly weak, u/c in the $51s. VIX is -1.5% in the low 14s, but a daily close in the 15s looks probable.


GLD, 15min

sp'60min

Summary

It is the typical turn time of 11am.... now would be the time for equity/metal bears to make a stand... and resume lower.
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time for an early lunch... back soon