The XAU is testing the long term supporting trendline from August ‘07. I’m looking to go long AEM if I get a buy signal, and XAU holds the 178 area. Ideally, I’d like to see the XAU lose that trendline support, and recapture it by day’s end.

I stopped out of all the TWM I had at 75, which was under the recent pivot. Like I said yesterday, a trader’s biggest mistake is usually being on the wrong side of the trend. QID sold for an average of 46.6

The market zoomed higher into the close. I guess Paulson did his job of calming the market. SPX has bounced back to a major resistance area around 1275. That’s the March pivot low. This rally lasted longer than I thought. Expect a ton of more choppy action.