The market is at the cross-roads

The U.S. stock market indeces bounced back from their support level in the last few trading sessions, however the momentum is not very strong and the volume is light. The overall trend continues to be bearish until FUSEX moves above the trendline.

The Fidelity Spartan 500 Index fund (FUSEX).

As gold moving higher again reversing its recent pullback, gold stocks moved up to their resistance level. A breakout on high volume from this level would be considered very bullish.

The Fidelity Select Gold fund (FSAGX) has approached the top of its trading range.

The Fidelity Select Gold fund (FSAGX) has approached the top of its trading range.

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