By Richard Russell
Today, the Dow has again failed to close above 18,000. I connect this with six distribution days on the S&P and five on the NASDAQ. The stock market does not look healthy at this time. With 45 minutes before the close, gold is down to 1220.80. 1300 appears to be doubtful based on the way gold is acting.
The US dollar has been loved as a safe haven. The dollar is now heavily overbought and is due for a correction. Ironically, the gold mining stocks are as hated as the dollar is loved. I believe that selling the dollar and buying the gold stocks makes sense at this time.
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