Bonds are being pretty resilient and refusing to stay down. While there is resist this morning just overhead at 173^11, I wouldn’t be shocked by a poke over to stretch for 173^31.

Crude slipped back to test deeper support at 41.26 but is firming up. Bulls need CL over 42.07 for confirmation.

Euro trying to firm up against support at 1.1824 and 1.1810. Favor higher but need over 1.1846 and 1.1859 for confirmation.

You are no doubt aware that I have long been skeptical of this run up in gold and certainly think there is plenty of room for gold to fall but I can’t be too bearish in the short term while GC is above 1850.00.