Those of you that recognize that the Covid news has simply been a distraction which kept many investors out of the market (with some even shorting) during one of the strongest rallies in market history will prepare yourselves appropriately for the next rally to 4000-4100SPX.
Vaccine news meets lockdowns. Gold down $74 this week, still under $1,918 area -- the 18 week moving average. Close above it, the chart looks much differently.
The $1850 support zone stopped yesterday’s $100/ounce price decline. It offers investors a great real risk versus potential reward opportunity to enter fresh positions.
There was a very large deposit into GLD yesterday, as an authorized participant added 313,382 troy ounces of gold. There was an even larger deposit into SLV, as an a.p. added an eye-watering 10,323,622 troy ounces of silver.
