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GOLD breaking out.. as USD weakness persists- 1250 tgt

Gm-  Fractional weakness in US Futures and in Asia while most of Europe trading mixed,  earnings out of Deutsche Bank and Royal Dutch missed estimates, while Sony, Mazda cut profit outlooks, so most of the world is mixed.  Key developments for this am-  GOLD breaking out above key 1223 level which bodes well for upside continuation up to 1248-50 in the short run.. US Dollar has NOT stabilized to the extent it looked to be, following FOMC and Slow rate hike forecasts causing pressure on Dollar, and particularly vs Yen. (should be watched carefully given high positive correlation with S&P, USDJPY.. and for now.. still moving lower)   Yields have stalled a bit in the US so combination of yields moving lower with USD lower tends to be bullish for the Metals and GDX still attractive near-term to move higher as Gold moves up to near 1250-    For this am-  KEY FOR S&P will be 2262 - 2264 for FUTURES.. near overnight lows and can't afford to break 2262 without expecting larger pullback, with 2254-5 also important.. but UNDER 2262 changes the near-term bullish thesis, so that's what to watch on a close-   Until then, the move in Tech continues to be strong and NASDAQ breaking out vs SPX is meaningful and should allow further near-term outperformance out of Technology-  For now,bullish stance remains until further evidence of weakness arises-   Advancing issues-  MJN, WFT, RACE, M, COST, DLPH, ACIA, X , while on the downside-  STML, SFLY, CVEO, MLNX, CRUS, MNKD, ALV, QRVO-  Let me know if you have questions