2pm update - market due a snap upward

The market has tested the morning floor, and everything is set up for a late day ramp. A move into the 1670s is within easy reach, and that will open up the 1680/85 zone for tomorrow morning. Precious metals have snapped higher, with Gold clearing $1350.


sp'5min

GLD'daily

Summary

Baring a break of 1659, its a very reasonable entry level, not that I will get involved.
-

Gold following Silver..next target is the GLD 142/147 area.
-

*Interesting to see many people out there now touting the mid 1550s again.

For me, the issue is not whether <1600, but what the subsequent bounce will be.

Will it be a small 50/75pt bounce.....or a hyper-rally into spring 2014
--


2.19pm..oh well, there go the earlier lows.

Tiresome day.