Gday folks. I gave back my profits from earlier this week trying...

Gday folks. I gave back my profits from earlier this week trying to short silver, but I think I'll elaborate on the overnight action on the gold or silver thread later.
As for the XJO/SPI, I am still medium term bearish. The SPI has drawn out its current pattern in the past week with the NYE spike down, and then a subsequent gap on the upside. I had mentioned on an earlier thread the SPI premiums are due to bottom, which should be associated with a XJO bottom as well. I want to see SPI discounts around 30ish for a good buying opportunity. If you want to review the SPI premium chart, se my post under the XJO January and the Calendar thread not much has changed yet discount is still about 10 pts.

So here is the SPI chart with the 2 levels that needed to be revisited, and now price can draw out its own path.