Our opening pivot point tomorrow in gold will be 1217.30. This came down slightly from 1220, but it still reflects where the resistance would stand. In the Dow, it is still lower at 15909.28. In the S&P 500 cash, it lies slightly lower at 1832.39. In the euro, we have a sharply higher number as in gold at 1,1371.
Caution is still necessary. When we look at the Daily Array in gold for example, the 8th on the top line was the target for a turning point. The 9th was a one-day move in the opposite direction, and then there is the risk of a three-day move. If that breaks to a new high, then expect that to follow-through into Friday. If we back off, then a break to new lows in gold and the euro would suggest a decline into the end of the week. So watch the openings in the Dow and S&P 500 for opening beneath those numbers would create an initial bearish tone.
