1:06 pm PST. Nice day for the precious metals and mining sector. GDX gained 3.67%, /si +1.52%, and /gc +1.29%. UUP had some smaller prints today, at 25.82 there were 200,000 shares block traded and we closed below. UUP backtested the 8 ema day and sold off. We closed just on the 4 ema.

The Dow and the indices treaded water today consolidating in a tight range. I am still bullish and think we will continue to climb higher into May.

Several days ago I bought Rangold, GOLD, at 84.91 and continue to hold it long. I do not expect to see GOLD back at 84.91 at any time in the near future. /GC is almost at the 1243 overlap point. I expect we will get there tomorrow and then see some consolidation for 1-3 days, but overall still bullish.

Here is my wave count for GOLD.