All of this set up a nice gold and silver rally for today. Too bad the CANDO PM stocks are closed for Canada day.
Gold is up $18 and and silver $.38 from yesterday's lows to $941 and $13.80. Watch gold hopefully for a closing above $940-941.
China manufacturing data came in very strong and oil is up $1.80. Commodities are NOT going to collapse. Besides, Jimmy Sinclair is over there talking to them about gold and the $US...he is getting red carpet treatment.
Gold was bombed as always yesterday in advance of this morning's jobs report, which is terrible at a slightly slower rate, so the DOW is celebrating up 95.
Yesterday, PM stock charts were painted down on the close as hedge funds and brokerage houses crapped on us for quarter-end benefit.
The $US dollar has fallen back well under .8000 today.
As I said yesterday when no one wanted to see it, sentiment turns just when the collective "one" reaches the stage where they think it can't. We are likely good to go into mid July and the rallies to there will determine whether lower lows are ahead. This summer STILL has a good chance of breaking the seasonable summer gold cycle doldrums. If one watches stock prices all day he often gets a phony and dejected and incomplete painted forgery of the bigger picture.
This bigger view states that markets in the 1st few days of each month most all the time, but dont get that confused with the significance of 3rd week June lows. Since then we have builded steam above and somewhat tested those lows, and since the are still in tact, IT IS THUS FAR VAILD despite disinformation from Hecate and the like.
IT IS WHAT IT IS UNTIL IT ISNT! ECU has "builded it" and they will come. That is my "field of dreams". Unless something unexpected happens, expect ECU to open over $.60 tomorrow.
I should know more about the significance of Canada Day..... 80% of Americans over 50 have no idea what American Independance Day is about, nor do they care.
So you canadians enjoy your day off knowing that tomorrow has the potential to bring sunshine.....pic has 4 U.S. PM and oil stocks to watch........pic
