10am update - much like Monday

Price action in US equities is much like yesterday... few buyers... but a touch more selling. The door appears open to a test of the 200dma, currently @ sp'2046. The weekly VIX cycle is offering the 18s this week. Metals are holding gains, Gold +$6. Oil is making a play to confirm a large multi-week bull flag, +2.4%


sp'daily5

GLD, daily

Summary

*precious metals look set for a few weeks of 'moderate upside'.. not least helped as the USD is in cooling mode. Certainly, I ain't interested in meddling in the metals right now... having closed a GLD-short last Friday @ 111.70. Maybe I can re-short from the 116/117s again in 2-3 weeks.
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As ever.. notable weakness in the Transports, -0.5% in the 8200s.

notable strength: oil/gas drillers, RIG +2%, SDRL +3.9%... as energy prices climb