Not much to talk about today, we are in the same situation as yesterday, with additional upside. Friday's Jobs report could move the market either way so I am still sitting in the metals market. Once the uptrend shows weakness I will probably short the S&P, but I don't want to go long this market right now. If there are some breaks of higher levels I will consider it but currently we are in a intermediate downtrend (May until now), so playing counter trend isn't my game so I will find other markets to trade in.
The candle stick formation is of a bullish continuation / confirmation of yesterdays massive move up. However, I do want to point out that this could be a perfect setup for a Evening Star, if tomorrows jobs data is terrible and the market has a down-leg that takes out the mid point of Wednesday's open/close price. Strong volume would confirm that the evening star has turned the market. This is an unlikely scenario but worth noting since playing the counter trend could be dangerous.
Gold up at 1250 mark, close to the all time high, possible resistance could be at the 1300 mark.
Silver up at the 19.60 mark which is huge, could have potential to break out to the 32 dollar mark that many silver bulls think is the next logical target for silver.
Platinum (1550)
All metals are up today including Copper
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