Wednesday, 2 March 2016

12pm update - already turning positive

With oil turning positive, currently +0.6% in the $34s, US equity indexes have naturally followed, with the sp'500 breaking a new cycle high of 1980. The giant psy' level of 2K will be viable as early as tomorrow, but more probable on Friday. Despite current gains: Gold +$7, the precious metals look highly vulnerable into mid March.


GLD, daily2


Little to add.

Anyone still trying to short ahead of the ECB (March 10th) and the FOMC (March 16th) is arguably way too early.

There still seems no hurry.

VIX update from Mr T.    due

*seemingly taking a week off*

time for lunch