GOLD…AND SILVER

GOLD is on the move as it broke above some more resistance. GOLD STOCKS are doing the same with a few names at new yearly highs. Normally, we would tell you this is because a weak dollar. While the dollar has been down, it has not been down much. To be watched. Silver also participating.

2 replies
  1. kent hughes says:

    What level on the S and P do you think the bears start to get a bit nervous? I was thinking around 2676 but would like your opinion.

    • anti semite says:

      Wait for the uup to break below support, and hold the pullback.
      .
      If yes, market rally, gold rally.
      If no the market can hold here for awhile. Gold ?, dunno.
      .
      My personal chart indicators are telling me that any rally here, is simply eom ( End of month window dressing ) and a February pull back is in the offing.
      .
      Q: How deep a market pull back ?
      A: watch the dollar.

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