Market Recap 28th May 2014 – Here’s what happened in Gold today…

By Markus Heitkoetter

Stocks finished slightly lower today, ending the recent 4 day rally. During the session the S&P pushed to a new all-time high before retreating and ending the day in negative territory.

The S&P ended the day down approximately 2 points and the DOW finished the session 42 points lower.

With a short trading week and quiet economic calendar, there’s been little to move the markets. With tomorrow’s preliminary GDP release that could change.

Gold (GC) continued its decent and triggered a  Power Crossover Method Sell Signal today with a move through 1263.1.

Using the Power Crossover ADR exit we’ll look for a move down to $1221.1 to take profits.

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