I watch the Philadelphia Gold & Silver Index(XAU). For years it was controlled from going higher in the 150 to 160 range. I think the boys are back to their old tricks again and think they can do it all over again now that the Index dropped below this area on the recent sell-off. It didn't surprise me that selling has developed versus recent strength at and around the 155 level. Last on the Index is 149.88.

There is significant support for the major gold stocks from the Index at 137 as a result of the trailing and ascending 1000 day moving average line.