12:28 pm. Update: GDX 862,067 block traded at 22.50. If we close below that, watch out below – if we close above, gold lives for another day. IWM so far about 1.3 million block traded from 136.05-136.16. If we close above 136.16, bullish.

12:07 pm PST. Going into the close I am bullish on SPY, QQQ, the Russell small cap index, and financials. I am bearish on bonds and gold. UUP found support near my 26.10 level on positive divergence and bounced. The TLT made a new high and now has a gravestone doji going into the close. I think the capital is going to flow back out of bonds now which will give the Dow the fuel it needs to rally above 20,000.