The next seven days can be hugefor equities, metals and commodities. It all starts with the G-7, followed bythe North Korean summit on Tuesday, the Fed on Wednesday and the grand finale-- Super Mario and the ECB -- on Thursday.
Any one of these events couldhave a dramatic effect on all markets, especially the metals. The equities havealready broken out to the upside, especially the Russell and the Nasdaq, makingall-time new highs. Most commodities are off their lows although were sellingoff the last few days.
That leaves us with gold, amarket that has been in consolidation at the bottom end of the range for weeks.Gold, after peaking in April, has been under pressure, leading us to believethe next move is higher. We are looking to buy but will wait for a solidfootprint to confirm our opinion.
By Todd 'Bubba' HorwitzContributing tokitco.com
Follow @Bubba_Trading