Gold Surges To 4-Month Highs, page-325

These daily movements and using anticipatory action or inaction by authorities is just too much hard work rationalizing noises. Take for example Japan NIRP and the market went on an initial sell Yen rampage then suddenly turned. It does not make sense right that further stimulus should make the currency a safe haven but that is what happens. It can't be cleared with the battle of safe haven USDJPY! It does not matter what the reason is short term like a few days.

XAU/USD technically should be rotating back down after meeting the sideway range top. If I were a swing trader, I would have cleared immediately it hit resistance. I am not in position so XAU/AUD is more significant to me in the longer run so I see plenty of scope for margin expansion by the goldies but understand that it does not move in a straight line.

Just like the SPI200, hit rock bottom support and buyers came back on and bid the index back up. Unfortunately like gold, until the index goes up and test the previous peak, I am expecting the support to break eventually for another leg down.

Sometimes there just ain't a reason exactly for why things happens and always expect the unexpected. Complacency cost dearly always. However I am surprised this crude sector junk bond risks are only now playing out in the broader index likely a contagion effect on market sentiment. Sometimes these things just takes time then the breaking point!

I am actually preparing to start looking at good sold down industrial/healthcare that does not warrant the panic like wholesale selling second month in a row.