The U.S. jobs report came out this morning and missed the projected number on the low side. However, bond prices declined and stocks rallied! The Nasdaq futures even hit an all-time high today before reversing lower ever so slightly. We are in a highly powerful bull market in U.S. stocks.
Gold is approaching a very key resistance level at $1,240 per ounce. Now, gold futures are up $4 on the day to $1231, which is actually another important level. I believe gold will come back down to the recent low area of $1215, and possibly head towards the next level at $1,210 per ounce.
We see WTI crude oil futures up again today (+1.19%). From the March 27th low, oil prices have rallied 6 dollars or around 14 %. The oil price is hitting an important resistance line today, so a small pullback may occur.
With the overnight news of the strikes in Syria by U.S. military, markets reacted rapidly. Gold and oil shot higher, while U.S. stocks dipped initially, only to rally back to nearly unchanged levels from yesterday's close. Crude oil has staged a very good rally during the past two weeks. It ran into key resistance at the $53 per barrel area.