Both metals should decline for several weeks
The market climbed higher than we expected on Wednesday, but the upward move still appears to be a corrective retrace.
We are trading based on the assumption that the SPX high was put in last week, and thus the strategy now is to sell from retraces. Thus, for example, we will be watching the 38.2% and 61.8% retracement levels near 1998.70 and 2006.60 respectively. In addition, if price breaks below this morning’s SPX low near […]