Thursday, July 6, 7:57 am EST. Gold is down a bit overnight… down by about as much as it rose Wednesday. We’re bouncing around at a key May support level. Will it hold? Will the metals rally from here? That’s what we want to know, and, I’m sure, a great many others besides.

The indicators are saying that risk is very much wrung out of this market. I’ll be looking for a reversal to the upside anytime soon now.

Stocks look to be pretty close to doing the same, too… with the latest earnings report season now on, I would guess that maybe some reported earnings surprise will light off stocks here very soon.

Harold

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