US equities are so far entirely unable to find a floor, lead lower by the R2K, -2.1% @ 943. Most notable of all today, the precious metals, seeing explosive upside, Gold +$56, with Silver +4.0%. The related mining stocks are seeing similar price action, with the miner ETF of GDX +7.6%
*I'd not normally highlight the giant monthly cycles during the day, but we have CLEAR multi-year bullish breaks in Gold, and the related miners.
There is a great to consider with those two.. as if the floor is in, the next pull back will be one to buy.
re: the count on GLD. Its an old count, it was based on the notion of Gold flooring late 2015 - related to Armstrong's ECM. As things were of course, we broke another new low in Gold and the miners in December.
As for equities...
Its not looking great... as other indexes are well below the Jan'20th low. Typically, the sp'500 would follow.. sooner or later.
VIX update from Mr P.
time for lunch