Thomas Demark is calling that the next two - three days will be critical and if the markets go down they can unravel very quickly. If today's weak ADP report can be taken as any guidance the coming up Jobs Report can be weak as well. We think that his call is very extreme, but Taper Pause is becoming the reality with every sell off in the market. Thanks to Bernanke, Janet Yellen has her FED Chair Crisis right at the start of her reign. Gold is fighting the gravity and market manipulators at the $1270 level and once it will close above it the mother of short squeeze in Gold will arrive.
Gold Goes Vertical Above $1270 On Weak ADP Report GLD, MUX, TNR.v, GDX
"Weak ADP report sends Gold to breakout above $1270 this morning with high of $1275 now - the close above $1270 will start the major short squeeze fireworks. We can expect more talks on Taper pause and this "must buy correction" in the general markets is getting uglier with every slide lower."
ZeroHedge:
ZeroHedge:
ADP Plunges In January To 175K; Biggest Miss Since August; December Revised Lower: "Cold, Storms" Blamed
Chinese Gold Rush Heating Up MUX, TNR.v, GDX, GLD, ABX, RGLD, GG
"We have another very important confirmation of the strong demand from China for physical Gold in 2014. With today's move above $1265 Gold needs to clear $1270 for the clean break out and massive short squeeze."Rob McEwen: Will Gold Soar on the Dow Drop? MUX, TNR.v, GDX, GLD, SLV
"Rob McEwen is in demand now about his views on Gold with equity bubble being challenged last few days. Market manipulations can not be run forever and reality will be settling in at some point. This time can be very close now with Durable Goods report out at - 4.3% (!) in December vs 2.6% in November. Last Jobs Number disaster can be not so "out of range' now as the bubble Media would like us all to think. Gold is at the very important juncture now and decisive move above $1270 will create the short covering fireworks."
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