Well, it's Tuesday. By now, we all know that Tuesday is the least likely day for EE raids. The phenomenon has been discussed here at length. It started with this:
Always keep in mind, it is this time of the morning when the EE likes to do their damage. They're always hoping to get the ball rolling early so that the momentum might carry all day:
That said, Blythe certainly seems to be whacking away this morning. After reaching a low overnight of $35.51, silver rebounded all the way to 36.55. Its since been beaten back, however, to a last of 36.18. There seems to be a rather determined effort to keep it under the 36.50-60 level which started yesterday. Maybe I'm just seeing things. Today will tell. Watch that level.
Gold is hanging nicely at 1433. Again, the more time it spends consolidating above 1425-30, the more likely the next move is UP than back into the range that has contained it for the previous four months.
Crude reached all the way back to $103 overnight. It stopped there as could have been predicted. It is now back above $105 and looks to be headed higher. Trader Dan has mentioned how just about everything is keying off of crude these days... and he's right...so watch the greasy stuff and the MidEast headlines closely today.
OK, we're off and running. Let's see where this day takes us.