Wall Street continued higher overnight. When the US market...

Wall Street continued higher overnight. When the US market rolled over last October the SPX virtually gapped down between 2860 and 2820. It is now trading back up in that area - almost as though it really feels the need to fill a few more gaps. As mentioned yesterday in my notes, we are entering a little time frame here for about ten days and I am thinking we might expect some interesting action. Watching closely.

Gold rallied slightly to be back above $1300. Palladium - what a star it has been. New all time highs again overnight. Palladium has led gold for the past six months and further strength there is good for gold.

Australia was again struggling yesterday to notch up further gains - BHP and RIO, helped by Fortescue, continue to do the heavy lifting. Every time banks look as though they might be able to achieve some worthwhile help, sellers seem to come out of the wood work. There was some nice buying in Canada overnight. Our market isn't locked into the trend of our northern friend, but worthwhile keeping an eye out there as it often suggests buying for the same sort of reasons. A number of our gold stocks were able to make some handy gains yesterday as the heavy selling from last week disappeared.