sp'60min
GLD, daily
Summary
*metals sure look weak... and a break under the $1130 low looks viable at ANY point. The miners will naturally be dragged lower into the black hole.. as Gold bugs are set to be broken to the giant $1000 threshold.
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As for equities.... hourly MACD cycle is set to turn higher...
Equity bears have NO excuses for complaints later this week if we're back in the 2070/80s..along with VIX 15/14s. There have been ample opportunites to exit/re-position today.
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Notable weakness: oil/gas drillers, SDRL -4.2% in the $9s.... urghh
2.24pm.. Fractional new lows in the indexes.... VIX not confirming the move.
Typical turn time is 2.30pm..... bulls need to make an appearence in the remaining 90mins.
Notable weakness, Oil, -3.2% in the low $48s... that is causing all sorts of problems for energy stocks.