Higher lows/Higher Highs

One Chart is all I need to show this evening, this is an hourly Gold. I keep mentioning that 1680 level, do you see how the last 3 times we got there, what has happened next, very frustrating when trading it but almost humorous to look at on the chart. Notice how the lows are higher each time, nice technical pattern but do not let your guard down-it is Gold and these guys are real good at grabbing your stops! Be careful with this market.
Silver is showing the pattern basically with the lows today coming in around 3160. If we do net get above $32 this evening and hold I would take caution on this shiny metal.

Onto the currencies for a couple of tidbits. Yesterday it was all Europe and the Euro was beaten below 135. Well, how many traders had their rears handed to them today? I was tempted to buy last night just before midnight below 135 but I was in the CAD. Speaking of which, is not doing much but it just did hit a new high for the day @ 1.0036 as I type. Looks good but I am leery because of the weak close we got in the equities and the Aussie came more than 25 pips off its highs in the past hour of trade. If trading the Aussie-we do have retail sales out of Australia this evening, 7:30 est and then their unemployment # out tomorrow evening.

Looks like Disney just released earnings that Beat the Street and the futures are rifling right back to the highs of the day, what a joke! I love to talk about the markets and now write about them and I hope I offer you something new and enjoyable each day. I came across an article today and I am going to post the link below. Please take the time to read it if you can.

file:///C:/Users/mconnolly/Downloads/10 signs Wall Street’s soul sickness grows worse - Paul B. Farrell - MarketWatch.htm