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A Week of Jobs Data Reports

As we take a look here at gold and let's first go to our weekly chart of closes –as long as you stay over $1976, the bias of the market is up because my viewpoint is when you're on a weekly chart and you're over that number, there's your bias. You can get corrections down to it but the bias should be up. That's a filter on other parts of your charts. When I come to the daily chart, regular viewers of this know that from this peak that we made at $2150 back down into this break low that we got under the $2000 level.

I said don't be surprised if you get a bounce of about 50% sooner or later and the market starts fighting a battle right there. It's exactly what's occurring. You're void of a trend right now. You have a higher high and a lower low pattern, that is not a trend. The market has upside bias, the supports all the way back to the 18-day average of closes at $2047. But it is not screaming come out and buy me.

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