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GDX still in the same channel:
Ira Epstein Metals Video:
Fed is the 800,000 Pound Godzilla That Doesn’t Care About Gold: Gary Wagner:
Stocks rallied at the open on Tuesday, and never looked back. There was a little selling into the close to take the indices off their highest levels of the day, but the 213-point gain tells the story. Some descending resistance was broken, but it was the 8th consecutive day of alternating losses and gains, so does that mean today will be down?
GDX remains in the downtrend. However, the lower trend line is angled slightly more bearishly than the upper. In my opinion, this indicates that bearishness is accelerating.
Why the Fed might not be able to put a stop to gold's run
Should Gold Investors be
Stocks chopped around in a tight range for most of the day on Monday, but closed near the lows. The bulls would pop the indices higher, but the bears swatted them back down. By the close stocks were down very slightly with the Dow slipping 8-points. Volume was light and as folks on Wall Street might say, yesterday was a waste of cab fare and a clean shirt.
Stocks gapped up higher on Friday morning and we saw some decent gains across the board, but some afternoon selling took the Dow and S&P 500 well off their early highs. The Dow ended the day up 66-points, which was about half of the 135-point gain it had before noon.