12pm update - moderate weak chop

US equity indexes remain seeing moderate chop... leaning on the weak side, not least helped by WMT, -8% in the $61s. Broadly, price action still doesn't support the notion that the market has seen a mid term top. First target upside remains 2030/40s... if not the 2040/60 zone... which really is critical.


sp'60min

Summary

Little to add.

I for one ain't getting overly excited at this morning's weakness... 

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notable strength.. the precious metal miners..

GDX, daily

I'm still largely dismissive that Gold saw a key multi-year low @ $1071.. and if that is the case, the gains in the miners will not last.

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VIX update from Mr T.




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time for tea :)