The Euro is trading lower after posting a high at 1.4247 on Tuesday and forming a closing price reversal top. Downside pressure overnight confirmed the chart pattern triggering what is likely to be a short-term retracement back to 1.4000 to 1.3947.

December Gold traded in a tight and narrow range for the second day in a row indicating impending volatility.

Fundamentally, the slow down in the break in the U.S. Dollar has had a lot to do with trader indecision. Bullish traders have backed away from adding to their existing positions since Thursday when this market made a closing price reversal top.

The U.S. Dollar finished lower against a basket of currencies for the fifth straight day in sluggish trading. Contributing to the weakness were reports that U.S. Jobless Claims rose last week by the largest amount in five weeks and U.S. Retail Sales were down.

The weekly Trade Triangle from INO.com says that we should be out of NASDAQ for at least the short term. Here is what the president of INO.com has to say...

They Say That Timing In Life Is Everything