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.

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.