When I look at the last few months of trading is see $1080 and $1030 as areas to watch. If we close the week below $1080 I see $1030 as the next level that should be support. I place less and less faith in technicals as the market gets more and more manipulated, but it gives me some indication of how bad/good it is. When I look at the silver chart, I see no sense in it what so ever. Looking back 6 months I see we broke below a rising lower line a few weeks ago. Short term $16.60 is an area of concern. I doubt that we will close below that level, but if we do it would not be good in the short term.
Gold rose very fast and a correction is natural. Given the COTS structure, it is obvious that commercial shorts are orchestrating this down turn. Silver is just plain crazy. The fight between the massive crimex shorting and the combined industrial and investment demand just goes on and on. I must have said to myself fifty times, it can't keep going with out a significant break out.

What I suspect is the political pressure is to keep the goldilocks propaganda view of the economy by supporting the stock market and the $. This is deemed necessary while the grubbernment attempts to dump another tranch of paper on the market. Given that the majority of the bills, notes, and bonds end up on the fed's balance sheet, I wonder why they work so hard.It is no secret to anyone that the US is monetizing faster than at any point in its history. The misguided government is writing checks with nothing in the bank. Their attempts to suppress the precious metals are creating a great opportunity for those with a few spare Fed reserve notes they wish to trade for money. Our problem is not that we aren't right, it is that we are human and must suffer the pain while the markets take their time to rid us of this massive manipulation.
Our day will come. Physical and quality pm stocks will eventually shake the shackles of despotism. In the mean time we'll suffer through. Me? I'm going to hold my 1 oz buffalo just to keep myself grounded in something honest while I wait this out.