8:35 am PST. BAC is in this wedge. If we break down from it, very bearish. If above, very bullish. No either or.
Monthly Archives: April 2017
GLD
8:09 am PST. GLD broke above the downtrend line.
Dia
7:53 am PST. I think the Dow is in this wedge pattern here consolidating for a final move higher into May. We have a-b-c complete, till looking for d-e today and Monday, then go up.
pre-market
6:04 am PST. I think this is an ending move on silver and I plan to buy puts on GDX for a ride back down to 22.75, the 200 sma day.
NFP
5:36 am PST. Horrible jobs report causes gold to spike to 1273. The Dow futures are still holding their low.
“Nonfarm payrolls grew by just 98,000 in March though the unemployment rate fell to 4.5 percent, according to a closely watched report Friday from the Bureau of Labor Statistics.
Payrolls had been expected to increase by 180,000 in March, according to economists surveyed by Reuters.
The numbers come amid what had been a strong year for jobs, with both January and February easily topping Wall Street’s expectations. A report earlier in the week from ADP showed that private payrolls expanded by 263,000, further spiking hopes that the momentum would continue.”- cnbc.com
GDX
7:46 pm PST. At the same time GDX looks incredibly bullish. It could break out to the upside out of this long-term wedge. If gold opens tomorrow around the 1270 area GDX will gap up out of the wedge. If so, I might flip and go long.
Silver
7:39 pm PST. This could be an exhaustion move here on silver. I still think silver needs to pullback and make a higher low in April going into Martin Armstrong’s benchmark this month. And I still think the dollar will make a new high, the Dow will rally into May, and the Euro will make a new low, so it makes sense that silver and gold could reverse down hard here and the Dow up.
Dollar/ Dow
7:05 pm PST. It looks as though the neo-cons own Trump now. War never solves anything. I do not feel too safe as an American anymore. I do not see how this strike is going to make us any friends around the world.
The dollar is selling off. I see support at 100.477. Gold futures are at 1270 now. The Dow futures sell-off is muted in proportion to this gold fear rally. The Dow could turn around tomorrow.
Dow futures have support at 20429. 
Gold
6:30 pm PST. Gold exploding higher. I should have paid attention to my longer-term chart. It had broken above the trendline weeks ago, backtested and held above it.
Trump to Strike Syria
6:17 pm PST. Trump is said to strike Syria in a few hours and the Dow futures are selling off on the news with gold popping higher.
From Zero Hedge: “Credible sources are reporting that Trump’s airstrikes against Syria, which risk provoking a major military conflict involving not only Russia but also China, could begin imminently, “even within the next several hours.”
First, the Spectator tweeted moments ago that there are “reports that journalists are being told to remain at Pentagon and ‘chatter’ of military strike on Syria as soon as tonight“. http://www.zerohedge.com/news/2017-04-06/chatter-syrian-airstrikes-soon-tonight
My Journey Towards Understanding the Markets 