Equities in particular don’t look very healthy at all. Gold is a surprising winner, intraday-chartwise.

by Dave

After watching for two hours, I’m seeing the following:

Gold’s chart looks strong.  Its a steady move higher, although it may have run into resistance at 1240.

Silver looks a bit less strong than gold – there’s some selling pressure, but still in an uptrend.

Miners gapped up at the open, but have sold off all day long.  They look weak.

Copper gapped up big, but then sold off gently all day.

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Crude gapped up, and then rallied in asia, but has sold off fairly sharply, losing its asia gains.

Equities gapped up, moved up slightly before the US open, but have sold off fairly briskly all day long.  If it continues, it might even end the day in the red.  Today’s gap up open was an opportunity for traders to sell.

Platinum gapped up, rallied, and has lost most of the rally.

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Bonds traded sideways, then started rallying sharply just before the US open.  They are doing reasonably well.

Palladium made a new all time high, and it looks as though it might climb some more.

This should produce some interesting candles for tomorrow.  Equities in particular don’t look very healthy at all.  Gold is a surprising winner, intraday-chartwise.  It may actually break out to a new high today.


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