Analysing the chart of SPY shows that the bulls still have the will power to push this market higher. I don't recommend you holding shorts overnight...coz if the bulls push this market above that 200 MA it is going to get stuck up there for a while. Buying on dips and shorting intraday are better strategies in this scenario.
I think copper is on the rise again, time to take a look at FCX again. Buy on dips.
I will also be keeping an eye on TBT
I have no doubts that Gold is going to attempt to break out sooner or later above 1000. Most of the gold miners report their earnings in mid July, so there is still plenty of room to run. Perhaps June could be a bullish month for gold...we shall see.
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