The average American has no idea the risk they are being routinely subjected to by legions of financial advisers and finance managers operating to the old rules.
Traders will start taking positions for next week's over hyped Federal Reserve meeting. In my view the Federal Reserve will not be direct/clear on March interest rate cut.
Nothing on this chart yet is bullish. If anything it's keeping its bearishness: lower highs and lower lows. You're coming into the first support that you and I have been talking about night after night.
What can be said about the current situation is that $2010 is a buy zone, albeit for aggressive players. It can also be said that gold, silver, and the miners have often rallied from January to August during US election years.
The gold market is still in a corrective mode. The market is still caught between this break low off that high, when the market made new all-time highs here into the $2150s and then pulled itself back.
"Precious metals will also enter into a bear market at the same time, whereas the bond market may be setting up to crash along-side the equity market."
If you look at your support in the market on an 18-week moving average, it's back at $1993. So to negate the bearishness of the market, you've got to get back over $2041.90.
