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!
sp'daily5
GLD, daily2
Summary
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.
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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.
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Here in London city...
Rainy... but mild... spring is almost here.
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time to cook :)