2pm update - increasing downward pressure

US equities appear increasingly vulnerable into the close.. and across at least the first half of tomorrow. First downside target is the sp'1900 threshold. The lower gap of 1871/64 looks out of range in the near term. Metals have built very sig' gains, Gold +$27, and that is helping the related mining stocks.


sp'60min

GLD, daily

Summary

So.. a weakening equity market.. with renewed interest in gold/silver/miners.

Broadly though... its all minor noise.  sp'1930 is no more a top than 1810 was a key low.

VIX remains -2% in the 21s...  reflecting a market that has no real concern.

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notable strength... GDX, daily

With equities cooling, the precious metals are attracting renewed interest... although it is very likely an unsustainable gain in the near term.