The SPX is currently in an uptrend after forming a higher low on the daily chart. The breakout over the trend line resistance of the past few months was stalled around the 200 daily moving average. I’m bullish here, and sticking with the uptrend. A small pullback here is healthy, and the 200dma is a logical place to stall. Moving above that is the next target for the bulls.
I am not a buyer of gold stocks here. The XAU is in danger of moving into a bear market. Buyer beware. A few more thing must fall into place still, but they are looming closer. I have included the trend line down to 130 on purpose
