I still expect gold & silver to follow stocks down.
USDX strength is slowly returning and this will be evident once SPX rolls
over within a week I think. Yes it’s dragged on longer than I expected
but the next equity down leg can not be prevented. Guaranteed.
GBPUSD daily chart shows choppy megaphone – looks bearish.
USDCAD daily chart uptrend continues to develop.
Despite short cover spikes, indices remain very overextended with risk of
waterfall sell off.
Daily chart good trends:
As before, sellers return after SPX short covering rally yesterday.