1pm update - minor down wave

US equities are due a very minor down cycle this afternoon, but in no way can it negate the bulk of this mornings gains. Metals look maxed out on the smaller 5/15min cycles, Gold +$5... a negative close is very viable. Oil is battling to build sig' gains, +0.8%.


sp'60min

GLD, 15min

Summary

*after some consideration... I am now re-short Gold, via GLD. Certainly, broader price structure remains a very large H/S formation, with the Nov' low of $1130 set to be taken out.
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Little to add.

Broad equity market is now back to confident mode.. with a net weekly gain now due.

The recent low of sp'2067 now looks a long way down.

*yes, I realise some might argue we're putting in another lower low on the sp'500, but still... the gains look too strong to be fully reversed.
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notable strength: CHK +3.7%, as Nat' gas prices jump 4.5%
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back at 2pm