Gold and silver are very weak this morning and breaking below some significant levels:
Daily Chart of Gold:
Daily chart of Silver:
The dollar is also on the rise back, back above the $80 level, and looks good for further upside, which in turn will be bad for stocks:
The S&P 500 is also breaking below the 200 day moving average this morning:
After the mini Santa run we just witnessed, it’s natural to see stocks pullback. But, is this something more? The dollar/Euro will be a key tell moving forward as it has been all year. As long as the dollar continues to climb above $80, I am a seller of stocks. The Euro is also on Edge and staring into the abyss below $1.30. We need to Euro to stabilize before the buyer show back up.
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I’ll bet Chess has a nice pic in mind for your post.
I was thinking the same thing. May have to get with him an update this post.
This may be my mistake, but those look like monthly charts of gold and silver, not daily.
Does it matter?
the candles are daily candles.