12pm update - waiting for a clear turn

US equities are still battling higher, but with a very probable rollover. Primary downside target remains sp'2080/75 zone.. along with VIX 16/17s. USD is in churn mode... with the DXY 98s seemingly due Thurs/Friday, which will put extra downward pressure on the precious metals/Oil.


sp'60min

GLD, daily

Summary

*metals are in minor churn mode... with another sig' decline due tomorrow.. and perhaps into Friday/end month.

Indeed.. Friday is the last trading day of May, and for the chart maniacs out there.. the monthly closes are always pretty important!
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Holding to best short term guess... an equity rollover.. to the low sp'2080s or so.. with another kick higher in the VIX.

The grander issue is the USD.. and that is largely dependent on whether the Greeks want to kick things out for another few months. Considering the past FIVE years, why wouldn't they want another few months before they finally default/GREXIT?

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VIX update from Mr T.



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time for lunch :)