4:39 am PST. It looks like gold and silver are up this morning as expected. We closed above those dark pool prints yesterday, which I had not seen in a while, and technically we closed bullish. I am still long JNUG and curious to see how today will play. My first wave count is still in play in both gold and silver. The Dow futures are correcting slightly as expected as well. This will be a shallow and relatively short correction and I do expect new highs next week. This pullback will be an opportunity to buy, and I will be doing so at the right time and right pattern.

The dollar is correcting as well and has support at this rising trendline. If the UUP breaks down from the trendline, a more lengthy correction is underway.

JNUG broke up out of the wedge overnight. It might backtest this morning at the open. If the backtest holds, I will add. If it breaks, that is my stop.