We've had the capitulation and the rebound rally. So now we should have some sort of consolidation/pullback move to correct the short term overbought conditions before the next leg higher. I'm just not sure whether we get a sideways consolidation or a deep pullback (maybe something in between). Regardless, it appears the fear trade is giving away to the greed trade, so the theme has changed from selling strength to buying weakness.

Gold spooks me a little right now. Approaching a period of seasonal strength, but the chart looks like it's building a bear flag. Also, for the last 2 months, it's been worth more than platinum - very unusual. Either platinum is seriously undervalued, or gold is still in speculation mode.