12pm update - a little sun ahead of the Fed

US equities remain in minor churn mode, but as has been the case since the Feb'11th low of sp'1810, price action remains leaning on the upward side. The gap zone of 2038/43 is well within range this afternoon, but whether the market can keep on pushing beyond that seems highly doubtful.


sp'daily5

GLD, daily2

Summary

re: metals/miners. From a time perspective, they could easily continue to cool into early April. Price still hasn't even hit a basic retrace.

It remains a concern that if the metals/miners won't actually floor for another few weeks, that'd bode for further sustained equity gains.

Considering the bigger weekly/monthly equity cycles though, I find that difficult to envision.

Thoughts?

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Here in London city...

... another day closer to spring.

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time to cook