Thursday was another familiar type of trading session we have seen play out earlier this week; US stocks continued their sharp decline, offering a level of support to both gold and silver. By the close of Thursday’s session, the Dow lost more than 1000 points, or some 4.15%, while the S&P 500 shed 100 points, or 3.75%. NASDAQ dropped a whopping 274 points, or almost 4% in a selloff that matched Monday’s horrendous decline. Significantly, all three indices are at or near a 10% retracement from the highs, the first evidence of a credible correction finally asserting itself. The question now becomes whether or not we will get a trading bounce off this critical level or continue to push right through it.
|Precious Metals Daily Report --- February 9 2018.pdf||423.61 KB|