We had a really nice pop higher in the indices, gold, and the dollar. The indices and financial stocks pulled back after the open, but I think this will only be temporary and we will likely see a really nice wave iii sustained move all day higher tomorrow.

The dollar is just about to roll over and this is really bullish for mining stocks short term. I think UUP could pull back to the 26.20 area. It could do one more minuette wave higher tomorrow, but the negative divergence is really mounting and there is not much room left on the upside for the dollar or on the downside to short the Euro. Newmont and EXK held support at their upper trendlines. GDXJ tagged it at the close. I also saw about 900,000 shares of JNUG block traded from 6.33-6.40 and we closed above all of those prints. I am bulllish on the mining stocks.

Here is PAAS closing above two upper down-trendlines and above the t-spot. It tested the 4/8 emas and bounced.

The 20-year treasury also got a lift after initially selling off in the morning. This could be an interim top for TLT and it looks like a sell at the close.