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It was a good day today for the bullish precious/bearish equity crowd. It was diminished somewhat, of course, by the knee-jerk BTD mentality so deeply burned into the public mindset, as everything bottomed out close to the open and rallied for most of the session. Still, we ended the day crashing almost half a percent on equities. More important, we lifted to lifetime highs on gold. Here’s the NQ:
 

The Dow Jones Industrial ETF, the “diamonds”, eased back away from its lifetime high. What we really want to see here is a failure of that very long trendline, which was shoved aside a couple of weeks ago. That would constitute a failed bullish breakout.
 

As for the miners, they are continuing to do absolutely great.
 

I’m even more excited about gold itself, since its successful completion of its right triangle continuation pattern portends good times ahead.
 

Remember the target price I set for silver many months ago? We are just pennies away!
 

Across the board, we got gaps down. It will be a true success if we can not violate these fresh gaps that were created between Friday’s low and today’s high.
 

In particular, it would be beneficial to the long-suffering ursine set if the semiconductor ETF held its own gap and, even better, broken beneath that dashed horizontal supporting line that I’ve drawn.
 

Finally, I’ve got to remark – – it’s truly gross (and ironic) that the free enterprise GOP (within which I grew up a stridently proud member) has gone full socialist on us. Not a week goes by that they’re not sticking their nose deeply into the government/private enterprise soup, such as with the 10% “investment” in Intel. The latest travesty? Pre-announcing that they’re going to declare a “housing emergency” soon. Only God knows what colossal money-wasting screw-up that’s going to comprise.

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