The Market Update

The Dow keeps pressing higher as the talking heads keep questioning why. Gold presses lower and Gold is below the 1400 level. A closing below 1402.50 on June today for gold will keep it vulnerable to the downside. If we get to retest the 1321 area, that will be extremely bearish and warn that new lows are likely ahead. A closing in silver on the May below 22.80 will also be bearish. In the Euro, support in the cash market is starting to give way. A closing below the 127.50 level may lead to a test of the 122-123 area.