LOOKING FOR 1K
Markets continue to drift higher with the SPX +4.5, NAZ +10 and the DJIA +31. The big story however is over in the gold pits as the yellow metal is higher by $16 and trades a few bucks under my $1,000 target - as the law of large numbers come home to roost.
Strong sectors- metals, gaming, banks, emerging markets and retail while ags, drugs, tech, homies and semis lag.
NYSE- 900 net green;
NAZ- 400 net green;
SPX- 315 GREEN;
NDX- 75 GREEN;
VIX- down 5% at 27.5 and about 5% above the SMA 10.
TRIN- .63 with up volume about 3x the down.
RSI 2 levels on major indexes hovering near the 30 level as the over sold levels are being left in the dust.
Balance of the day- not expecting much but it will be interesting to see if they get bought or sold in the final hour- in the mean time - this fish is looking to dump some DGP over 1k on the yellow metal if we get there today- its pretty pretty close.