Buy The Dippers Trying Hard

This morning several support levels were broken on stocks, indices, commodities etc. Gold took it the hardest as it moved strongly below a trend line, and would need to reverse today to prevent a downtrend from starting (though of course it can always do what it wants after).

Of course if it reverses, it could be a very positive sign as there are plenty of gold bulls that would like a reason to pile on.

You can see in stocks though just how much cash the buy the dippers have as they try to support the market by buying as prices fall. I’m not sure they could hold this up as enough well-known companies have forecasted soft quarters ahead to keep many buyers at bay.