12pm update - remaining weak

US equities remain weak, as Mr Market seems more than content to wash out some of the weaker bullish hands. VIX is holding most of the morning gains, +12% in the 17.70s. Metals are weak, Gold -$7, with Silver -3.0%. Oil is so far unable to rally, -2.8%.


sp'60min

GLD, daily

Summary

*with metals weak, the related miners are being dragged lower. The miner ETF of GDX -3.1%
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Little to add... on what is a very quiet day.

VIX has hit target... sp' has fallen a little short at 2044. There is fair chance of another micro down wave later today.. but broadly.. it makes no difference. We're still headed upward.. at least to 2090/2100.

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VIX update from Mr T.


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time for tea