12pm update - no equity downside power

US equities are holding close to historic highs, sp'500 u/c @ 2129. It should be obvious to most that there is simply no downside power.. as also reflected in a VIX that can't even claw back into the 13s. Metals remain weak, Gold -$17, with Silver -3.4%. Oil is -2.9%


sp'daily5

GLD, daily

Summary

Well.. its another rather quiet day in equity land. It seems Mr Market is just waiting for the next excuse to rally into the sp'2140/50s. I would remind anyone of the FOMC minutes.. due tomorrow at 3pm.

USD looks set to hold sig' gains for a second day.. and that should keep the pressure on Oil and the metals into tomorrow.. if not into end month.

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Notable weakness: oil/gas drillers, RIG/SDRL, both lower by a rather sig' -5%

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VIX update from Mr T.



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time for lunch