Gold and silver bounced back today, as the pricing of risk was marked a bit higher, with stocks retreating a bit, but again in otherwise dull trading.
In terms of the developing chart formation, the ‘cup and handle,’ it is like watching paint dry.
Let’s see how we work this short term bounce out, and if any longer term patterns can be established, because right now the trends are stocks up and gold down. But we have just bounced off major support and resistance lines.
Yesterday’s NCAA basketball championship between Villanova and the University of North Carolina was one of the best college basketball games I have ever seen. And I am not a big college basketball fan, watching much more Formula One and Barclays Premier League with my son these days in comparison, but it was a real contest from start to the amazing finish.
We had a ‘hard freeze’ last night that played havoc with the flowering trees. And we should be quite cold again this evening. Well, this is still early Spring.
Have a pleasant evening.
