12pm update - moderate gains

US equity indexes are holding moderate gains, with the sp'500 having swung from a morning low of 2091 to 2103. A break above key resistance of 2111 will be difficult today, but looks probable by the Friday close. Metals remain very weak, Gold -$13. Oil is seeing mixed chop, -0.1%.


sp'60min

GLD, daily

Summary

*price action in the metals is looking especially bearish, and the Gold bugs should again be very concerned of a violent snap lower if Gold loses the Nov' low of $1130. I remain looking for $1000 this summer, which will help make for a grander multi-year low in the mining stocks.
--

Little to add. There is no downside power... equities look set to battle upward into early May.

notable strength: TSLA +4.5%.. having broken above the descending trend from last Sept.

-
VIX update from Mr T.


--
time for lunch