now seems destined to rally back up to parallel resistance at 2965,
to set up a potential "End Game" for this fall.
Breadth, or the number of stocks participating in this new rally
in the last two trading days has exceeded 400 stocks to the upside each day, out of 500 in the S+P 500
signifying that this rally continues to build in breadth, and in technical significance.
The markets zero sum focus on the Fed Chairman's remarks this Friday at Jackson Hole,
anticipates a move to" more than mid course policy adjustment" in lowering interest rate position by the Fed.
If that turns out to be the case,
the market has decided to buy now, and suffer any potential disappointments or fools later.
All of this plays into my theory that the market has decided, to kick the can forward now,
meaning that no major downside break will materialize during August
but rather set up a continued scaling move back up the chart,
to ultimately set up a" Broadening Top Pattern"
of massive technical significance,...
entering the fall of 2019.
( See Chart )
You're in a winning breakout to the upside.
Just remember to raise your trailing stop to protect your hard fought gain..
Best of luck here.
I do not trade the metals, as a rule.
so my thoughts here would not be helpful.