Looks like Gold took an early dive around 5:00 AM and bottomed around $904 for the time being. Dollar still above .7325 after yesterday's strong rally that pushed it to the top of it's range. Green all around the world and our futures are up a bit.
ADP number this morning ahead of tomorrow's first look at GDP followed by Friday jobs day. I would expect the markets to continue to rally, unless we get a surprisingly low GDP # tomorrow, the next two days. Nothing wrong with this as we expected to start trading within a range of 11,000 - 11,550. Only problem is the Financials have rallied MUCH further than the rest of the market and the dollar is pulling Gold and oil down hard.
Best outcome would be for this rally to continue the next two days, with the same volatility occurring, then we get hit with a nasty jobs number on Friday which would start a dollar fall which is about ready to take the next step down.
GLTA
Go QMNM :)
Joe
Subscribe to:
Post Comments (Atom)
1 comment:
I'm gonna' start throwing some of my dad's retirement account at AUY today if they stay in the 12's...this is just too good a price to pass up on these guys IMO.
Prob. will add a little more SKF if financials rally hard today.
Other than that, gonna be in DC most of the day w/ the fam, and not near a computer...
Post a Comment