The stock market is holding onto today’s gains thus far, much the opposite of yesterday’s fizzle (by this time). The market had topped around 11:30am EST (1st key time) yesterday (Wed). Today’s action (Thursday) is much different.
And the way gold is acting in here, I believe we may see gold prices moving down further and the S&P500 along with the FX (euro currency) moving higher.
In regards to the intra-day trades, we may see a burst of buying in the S&P around the 2:30pm key time. I think we could see price push up to the 1080 area, which if that does occur that would be bullish in my opinion and could set up the market for the relief rally I have been talking about (in the S&P/Equities).
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