Good morning, I am early today as it is 7:30 EST. The US dollar just broke through 80. The Euro is well above 135, Aussie @ 10305 and the CAD @9760. Not much from the State Of The Union speech just yet. He speaks so well that he makes our challenges seem easy to surpass, I did watch and listen in its entirety.
The big event today will be the US retail sales, they are only expecting a rise of 0.1%, let us see how they spin the numbers today and how the markets react. I must say I am extremely disappointed in Gold this morning! The title above is the theme of the day- with the Dollar falling back below 80 and Oil pushing $98, can they keep Gold & Silver near these levels. I gotta say, that would not be a good sign.
I am long but I will fear a final washout for THEM to take out the stops below the lows in gold around 1620 and Silver 3020. If the dollar somehow gets a boost from the retail sales # and goes back above 80, THE INVISIBLE hand will slam the metals and the Stock Market will be off to new highs.
I'm not making a prediction, I am only trying to show you how this game is played.
Let's hope Gold pops back above 1650 and can hold yesterdays low of 1639.5.
Be STRONG
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