Yesterday’s strong rally has seen lots of head scratching around the traps. A rally of that magnitude in the US Equity markets wasnt exaclty what you expect on the day when several more write downs were seen, including yet another from UBS.
So the question today is whether these gains can be sustained, and we’ll be watching the Marabuzo lines of yesterday’s candles to help to answer this question.
Gold Futures sold off hard yesterday but has got to some key support levels and we’ve discussed this in today’s report, with a trade suggestion to boot!
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Be careful out there!! As I said in a seminar last week, make sure you’re still “in the game” in a few weeks/months.
These are extreme times. some of the best traders in the world are struggling to make money, so keep it tight and don’t try to take on the world!!!