US equities have shaken off initial shaky price action, and powered back upward, with the sp +23pts @ 1955. First soft target is the recent 1962 high, after that... the daily cycles will be offering the 1990s this Friday. Metals have seen a strong reversal, with Gold now -$8, and that is not helping the miners!
Whether you want to blame Dudley, or just a lack of downside power, we still look headed upward for another few weeks. Clearly though, we're getting kinda close to 'best bull case'... as even Oscar recognises.
notable weakness, miners, GDX, daily
Both the miners and gold/silver are due a retrace into mid March. Of course, the February gains were EXTREMELY important, signifying a multi-year breakout.
*I will look to be long GLD and GDX in around 11 trading days.
After the retrace... first targets will be $125 and $25 respectively.
Here in London city...
Rainy... but mild... spring is almost here.
time to cook :)