Did you see that move in Silver and Gold? Silver was walloped last night falling more than a buck and a half in thin Asian trading, almost reaching $20. Gold did see a nice $40+ reversal today and Silver saw a rebound of $2+. What does it all mean? Gold traded down to 1320 and rebounded almost to 1500 in just a couple of days and then tumbled all the way back down-point being, do not get all that excited just yet from one days price action!
The US dollar did not follow through today on its weekly breakout, but it really did not reverse either. I usually like to see what the market does for 3 consecutive days after a breakout, so for now I am an observer of the BIG CASINO In THE SKY. It really has become a mess! I am not convinced that the US Dollar can maintain momentum to the upside but we must give the charts some credence.
I found this article today and I wanted to share it with you, please read what I share with you.
http://rt.com/business/us-debt-ceiling-suspended--510/
No matter what we see with all these markets on a day to day basis, you must understand the position the US is in, bottom line is this, It will not end well, and the suffering will last much longer because THEY will have exhausted all of their tools to keep THE ILLUSION alive!
Sorry to be a Debbie Downer but I want you to know the TRUTH.
Martin
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