Tuesday, 12 May 2015

2pm update - afternoon chop

US equities remain moderately lower, but a few indexes did briefly already turn positive. VIX is back in the low 14s, as the market is a little more comfortable as bond yields have cooled. Metals are starting to cool from earlier highs, Gold +$8. Oil is similarly off the highs, +1.7%


GLD, 60min'2, rainbow


*I remain short Gold via GLD, seeking an exit tomorrow morning in the 113.25/112s

So... the 1pm hour has seen equities cool a little, but still... we're already seen the Dow turn fractionally positive, and net daily gains still look more probable than not.

The opening level of sp'2085 looks a fair way lower, along with VIX having spiked in the low 15s.

This remains a market that wants to break new highs.

notable strength:  Discovery (DISCA) +4.6%.... am not sure why... will check.........