1pm update - spike floor from 1993

US equities have seen a spike floor of sp'1993, with most indexes already turning fractionally (if briefly) positive. VIX has a viable key cycle high of 26.81... and looks vulnerable to closing red, but still above the key 20 threshold. Metals are increasingly weak, Gold -$13, as higher rates will be bearish metals.


sp'60min

GLD, daily

Summary

*I'll cover the metals/miners more later...
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As for equities... the 1990s always seemed probable, as Mr Market will have wanted to wash out the sp' 2K stops.

Now that is done... we have far better chance of the market stabilising ahead of the FOMC.

re: Oil is pushing for a spike floor... now +1.8%.. 
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notable weakness...

miners, ETF of GDX -5.1%.... outlook into end year ain't pretty.
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