We mentioned in the Wednesday Update email version that we would write a blog out here every night including Wednesday so let's get to it.
The Dow managed another up day but the move looked a little tired relative to the performance of the last week. We are impressed with the market's ability to hold its gains of the past week but still believe they will not hold for long. We are here at 10,500 again today indicating that magnet is still operable.
The big news today and something we don't always mention here was the deep drop of the dollar index. Today it broke trendline support and dropped hard through it. This is after yesterday's drop down to the trendline. This should give temporary support to the gold complex but didn't seem like it today.
See you back here tomorrow.
Dow Industrials: 10557.39 +43.50
BGEIX: 11.29
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