Thursday Market Commentary - April 6, 2017

Stocks Sell to Stand Aside Near-Term - Update: Yesterday the market opened gap higher, then closed lower. This price action looks like the classic dead cat bounce. The bearish downside forecast for the Dow and S&P 500 stays the same, and also for the Nasdaq now which has been where the strength has been lately. 

US Dollar Index Buy Near-Term - Update: USD Index price upside forecast is 103.82 now. The US Dollar index has now held major support at 98.858 bouncing higher last week, and consolidating this week. As long as 98.858 holds, the forecast for the USD index is higher.

Gold And Silver Buy Near-Term - Update: The forecast is higher for gold and silver. Near-term resistance for gold is 1265, and silver is 18.58. An upside breakout of these prices could see strong higher moves in the precious metals. Buy at the market orders and or buy-stop entry orders at these upside breakout prices is recommended.