sp'60min
Summary
Despite the US Govt' seeing a limited (and no doubt) temporary shutdown, the market is indeed not crashing, and the likely opening gains are indeed somewhat ironic.
I'm not yet aware of why the metals are getting smashed, but then, the mid-term trend is still to the downside, and I'm looking for a good 30% lower on Gold, and 50/60% off Silver. Those are crazy bold targets I realise, but I'm pretty confident on them, before the next grand multi-year wave higher.
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Equity bulls should be seeking a break into the 1690s..and a daily positive close, would probably help to start a new multi-week up wave.
8.50am.. Gold now -$32..which really does seem odd...but anyway... the miners are naturally significantly lower.. GDX -2.7%...and in danger of breaking the key $24 level. If that goes..target is $22s.
9.03am.. Gold low so far...-$41..
9.22am... Perhaps the biggest story of the day...one no one else mentioned yet...
USD/DXY..broken the 80 threshold...in the 79.80s. First target are the 77s, thats a good 3% decline.
September was a clear break of the trend from 2011, the obvious now is whether the 70s will hold across the next year or two.
Does the Fed want to kill the dollar, and help to kick up asset prices that way?
9.41am... a lot of the reversal candles from yesterday are being confirmed...see stocks like F, UAL.
The Trans/R2K are breaking higher...
The sp' is trying to break out of the recent down trend (bull flag?).
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