Just a quick update.
Gold, silver and crude are all beginning to butt up against the resistance they found two weeks ago.
Crude is between 103 and 104.
Silver is approaching $36.
Gold is nearly to $1430.
It will be quite interesting tomorrow to see if they charge forward or whether, like two weeks ago, the highs for the week are put in early in Monday morning. I suspect that this week will be different. A lot of speculative excess was cleared out in the carry trade collapse of last week so we enter into this resistance zone this time with a lot of dry powder in the form of interested longs who suddenly find themselves stopped out of the market. As they come charging back in, the levels should fall.
Let's watch the headlines and see what the overnight brings. Something tells me this is going to be another crazy and wild week. Turd out.