BullMarketRun.com

The technical deterioration that we’re now seeing in the CDNX – many individual stocks and the Index itself now have 20-day moving averages that are rolling over – suggests an increased risk of a downward move, and traders and investors should exercise extreme caution right now…better buying opportunities or a more clear picture of where the market is headed are probably just around the corner…sometimes it’s just best to wait and let the market tip its hand…the breakout in the U.S. dollar above 79 cents is a potentially important development, and could put continued pressure on gold and possibly send gold below its December low…the U.S. dollar faces major resistance at 81 cents, so that may prove to be a good re-entry point as far as the gold market and gold shares are concerned…we will go into detail on the individual stocks in our portfolio in our weekend “Week in Review” feature…as of 9:00 am Pacific time, gold is off $8.40 to $1,077 an ounce while the CDNX has dropped six points to 1,496…the U.S. Dollar Index has surged .47 to 79.42…