Overnight Gold Gaps

“Failure is the condiment that gives success its flavor.” – Truman Capote

A choppy day once again as we wait for the next direction.

Gold however, traded down-sharply in overseas trading while I was in a deep sleep.

I’m not seeing anything that tells me go to long or short yet but it’s looking more like the next trade will be on the short side.

Until I see some more setups I won’t write much or do too much work in the evenings.

(Click on image to enlarge)

SPY remains trapped between the 21 day and 50 day averages and there isn’t much more to say.

A close under the 205 area would point to a move lower while a close above 207.50 points to a move higher.

Enjoy your evening.