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After a Break of This Size in Most Markets, Short Covering a Possibility

There's probably a theme here where some traders that are short are going to take some profits in the markets. Don't be surprised by that. Not a lot has changed. 

Fed Chair Powell is going to speak at the Kansas City Fed's Jackson Hole Economic Policy Symposium on Friday August 25th. If he is going and speaking, I promise you, all eyes will be on that.

When you look at gold, you're down 1.5% for the week. This break happened, this one rally attempt at the 18-week average of closes failed, and the market is paid for. The trend is down. Will we get a bounce? You can count on it.

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