OK, let's get the week started.
First up, the USDX continues its ugly ways. You can expect some buying to emerge somewhere down here which may cause a brief rally back up toward 77 and change. However, this chart looks to me like something that wants to accelerate to the downside. Below 76.18 you know there are a lot of stop orders so we could see 75 pretty frickin quick.
Onto our precious precious metals. Conveniently, these two charts have begun to show a rather clear pattern. First, in gold, if you look closely you'll see that for the past 10 days or so, we've closed higher than where we've opened. This is gives us a very strong picture of real, significant demand. The EE has clearly decided that they'd like to keep things under 1420 as long as possible but such strong demand will, eventually, overwhelm them. Remember, Friday gave us the 2nd highest weekly close of all time. This is extremely significant, as well. I get the distinct impression that this is a market about to burst back toward the alltime highs of early January and beyond.
10:55 EST UPDATE:
Looks like there were, in fact, a few stops above 33.75 in silver. Now, where do we go from here? Probably higher still as Blythe finds herself in an increasingly tight position. All of the fresh paper that she issued last Thursday is now well under water. HAHAHAHAHA!