As noted in the charts below, funds are beginning to shift into a few markets...

Regards - VHF

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Gold Breaks Short-Term Downtrend

After nearly being written off for dead, gold has quietly rallied by 3% over the last two days, bringing it back above $900 per ounce. In the process, the commodity has also broken its short-term downtrend that had been in place since it closed above $1,000 on February 20th. Over the last eight weeks, gold has been weak as stocks have rallied. With gold now showing strength, will equities pause?

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The Canadian Dollar is stronger again this morning. Yesterday, it broke above resistance at 85.02 cents U.S. This morning it broke above its 200 day moving average at 85.26. Next intermediate technical target is 92.5 cents U.S.

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Oil services stocks in the U.S. are leading the U.S. energy sector.

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Several specialty ETFs broke key resistance levels yesterday and established intermediate uptrends:

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