1pm update - headed for the 2060s

US equities remain broadly weak, and look set for a move to the sp'2060s.. whether at the weekly close.. or next Monday. VIX is finally showing a little upside power, +10% in the 15s. Metals remain in collapse mode, Gold -$30, with Silver, -2.5%. Oil is similarly weak, -2.4%


sp' daily5

VIX'daily3

Summary

*price action in the metals remains thoroughly amusing... I can only imagine how some will still be vainly believing we won't yet test the giant $1000 gold threshold.
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So... the weakness continues... and market looks set for a classic instance of 'rats selling into the weekend'.

Best case for the bears... Dow -325/350... in the low 17800s... close to the 50dma.

VIX looks set to max out in the 16.50/17.00 zone.
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Notable weakness: miners, GDX -6.9%... as the metals implode.