The last seven days has seen the stock market rallying hard. You’d hardly guess there is a financial crisis going on.
So has this been a victory for the bulls? Should the bears get ready to pack their bags or should they sharpen their claws? I believe the market could still have more surprises up its sleeve. However, now that we have reached key resistance levels, there will be a battle between the longs and the shorts.
Gold and Silver’s volatility has quite literally “evaporated”. The sideways consolidation still continues. Both metals seem stuck in an unhealthy sandwich of support and resistance. A breakout still remains to be seen.
In the above video I briefly explain some of the key points happening in the stock market with a focus on the S&Ps (ES) and also a brief look at the Gold and Silver.