1:25 pm PST. This is also the second day SLV has closed above the 161 EMA. Yesterday it gapped up over, today it went down and tested it exactly, as well as the 4EMA and bounced, albeit on lower volume. Interesting.

1:21 pm PST. The dollar closed still bearish. It backtested the 4 ema and sold off on higher volume. It is still below so technically still bearish. HYG made a marginal new high on even greater negative divergence.

Facebook, on the other hand, had a major pop higher after the earnings announcement today.

Gold looks like it ought to retrace further, but I keep saying that and it keeps climbing. There is always the risk that it could retrace further, but GDX closed above the 4/8 today, albeit on lower volume, so technically the trend is still up.