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Besides Jobs Data, We Get S&P Service Sector PMI

When you look at gold on a weekly chart basis, when a market is over the 18-week average of closes, I automatically teach and I tell you: the bias of the market is to the upside. You need a number on a chart that tells you bullish or bearish, bias filters. What is the market doing?

If the market pulls back just the way it did here, I would expect it to be support as it did here when it rallied, I'd expect those zones to be the resistance, and then if it crisscrosses the game changes on you.

When you take a look at the Feb gold, if you take a look at this high to this low, you had a bounce of just about 50% plus and you've pulled back a little bit. Okay, the short-term trend is what right here? There isn't one. A trend is defined as having higher highs, higher lows for an uptrend; lower highs and lower lows for a downtrend...but when you have a higher high as you do here than that one and a lower low than you do on that one, you have nothing. So the market stepped out of its uptrend. 

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