A Mad Rush

Thu, Jun 3, 2021 - 10:55am

For over a week, we've been concerned that the overbought RSI in Comex gold was likely lead to a pullback and consolidation before the FOMC in two weeks. And now here we are. Why today? Let's talk about it.

It's really not that complicated, actually. In yesterday's podcast, we warned that today would be volatile with the string of morning datapoints and, if the ADP were to come in strong, it would likely cause us problems.

CDG was already down $15 BEFORE the ADP number hit. Once it did...and it far exceeded expectations...the rush to the exits was on. Why? Because if the...

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