SP 500 and NDX Futures Daily Charts - The Paint Stays Mainly On the Tape

The several days of selling did dry up yesterday as we had suspected and today we had the end of quarter paint job.

We will probably see this continue into the weekend barring something unforeseen.

Let's see what happens.

Updated Gold Shadow Chart - Gold Hitting New Highs In Euros

Gold is now jammed up against resistance as many of the weak hands have been shaken out and the shorts are getting squeezed by fresh jitters in Europe. 

But is it enough to support a breakout? We will have to wait and see.

Gold is hitting new highs in terms of the Euro. 

I will be a little surprised if we get the breakout cleanly now without a serious 'gut check' after the gold option expiration, in which the in-the-money call holders now find themselves with shiny new futures positions.  But this might just be my inherent distrust of the trading environment on the CME.

Net Asset Value Premiums of Certain Precious Metal Trusts and Funds