This is not to throw cold water on yesterday’s gap…and the fact is it could have been worse as the Dow almost got close to break even…just letting you know to cool your jets.
GOLD and GOLD stocks are indeed pulling back but rather harshly yesterday. Unsure right here. Thought the breakout was meaningful and will stick with that thought until it fails.
That’s two straight gaps in big FINANCIALS…first because of fake stress tests Friday and then yesterday. Let them pull back.
Lots of tails the wrong way yesterday…up big early and either down or hardly up by the end of the day.
Don’t get us started on the “nothing” over-hyped meeting with China where nothing was done.