The NASDAQ is still showing weakness relative to the S&P with many key indices in the vicinity of their 200-day averages (either SMA or EMA). The McClellan summations are still pointing upward . The volatility index (VIX) remains just below recent support.The US dollar was very weak on Friday and broke below daily support (horizontal support). This drove a rally in gold with GOLD (Randgold Resources Limited) continuing to be a relative strength leader. Friday's gap up in GOLD acted as a flag pole and the first 3 hours formed a bull flag. The 12th 15min bar was a WR full-bodied candle that broke out (of the flag) and led to a nice trend move.
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