Will Precious Metals cross recent highs? Will S&P500 reach 4800?

We asked you to make long position in Gold and Silver at Wednesday’s closing. Gold made a high of 2052 and Silver made a high of 24.20. We are positive on Gold and Silver for the next 2 weeks.

We took a short position in S&P500 at 4626 with S/L 4656. The S/L was triggered. At 4680, it was suggested to make long position. It is currrently trading at 4725. Market is upward until Friday’s first half. From there, a profit booking is indicated at higher level. Please remember that next week is uncertain and it is not advisable to carry long position next week or alternatively hedge your longs by buying put options.