Another good day with the Dow and Transports both at record highs an hour before the close. There isn’t much institutional selling as we can see by the low number of distribution days -- two for the NASDAQ and one for the S&P. As I write shortly before the close, gold is selling at 1198.7 and it has been above 1200 many times today. The whole universe of gold is higher including HUI, GDM, GDXJ and GDX.
Personal: As subscribers know, one of my great interests is fear, and the role it plays in our civilization. One of the great mystic geniuses of the 20th century was Emmet Fox, the preacher and prophet. Fox was a friend of the great psychoanalyst, Carl Jung, and he therefore learned a great deal about the human psyche from Jung. Fox understood the subconscious and what is also called the unconscious mind.
The law of subconscious activity:
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