10am update - here comes Yellen... again

US equities open significantly lower, with the sp' -26pts @ 1825, and VIX +8% in the 28s. The precious metals are catching a powerful fear bid, with Gold +$36, and Silver +2.2%. It is notable though, there are some initial  signs of exhaustion tops in the VIX and the metals/miners.


sp'60min

VIX'60min

GLD, daily

Summary

*I'll try to cover the metals and miners in the next hour.

Suffice to note... after a sharp retrace from Monday afternoon, we're seeing another powerful break higher.
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So... opening sig' declines, but there are signs of a short term exhaustion floor - although it sure does NOT feel in any like capitulation.

Black fail candles in the VIX, Gold, miners. Such candles are not to be dismissed lightly.
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*I will be here across the day... as ever... say hello via Disqus (or email)   :)
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time to shop.... back shortly for another Q/A with the CEO of print central
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10.33am...

Every time Yellen says 'transitory'.... you know you have to take a drink.

sp -25pts...holding the opening low.