Update on NASDAQ, Gold, Silver & U.S. Dollar

With only seven trading days left in April we've yet to have a 3-day decline in the DJIA in 2013, however soon enough there'll be a 3-day and 3-week decline.  3 month?

In this recent post, "Update on Key Trends Soon To Be Broken, Plus Bitcoin Chart", we wrote that the NASDAQ would soon break its uptrend.  Two days later, that's happened and the DJIA and S&P should soon follow suit:

Gold and silver failed to bounce materially after collapsing early in the week, which suggests that the proverbial knife-catchers trying to time a bounce may suffer further cuts before a true bounce begins.  Whatever the short-term brings, any moves higher in gold and silver should eventually prove to be just bounces on the long way much further down.


On March 03 we posted "U.S. Dollar Going Higher, Gold Going Lower?"  In closing that post, we wrote:

"We believe the next two years will feel like an eternity for those who continue to slag the dollar and accumulate gold and silver in a misguided attempt to 'buy the dips'."

Readers of this blog do not need to see a chart to know how timely and accurate that statement has proven so far, and so too the correctness of our bearish stance on gold and silver of the past couple years which we've repeated stridently the past few months. 


Here's an update of the UUP chart:

On the USD chart, we see that the expected breakout seems to have occurred. The implication is that the dollar will continue to climb while commodities and equities slide:

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