The mining stocks soared once again and they have done so without gold’s help. It seems that the mining stocks’ rally is on everyone’s tongue. No wonder – big rallies are exciting and we are also starting to feel a bit excited about it ourselves. The key to success in trading, however, is taking advantage of emotionality of the market, not following it. Therefore, instead of repeating that miners’ strength is the sign of an inevitable major rally in the sector – let’s focus on keeping as objective and unemotional as possible regarding the investments and focus on the facts. Let’s analyze the market without any biases and as if we didn’t have any trading position at this time. Is it worth jumping back in the market at this time?

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Gold, silver and mining stocks didn’t do much yesterday in terms of the closing prices – they closed almost exactly where they had closed on Monday. However, we saw a mirror image of Monday's intra-day action as gold declined initially, but then came back and closed more or less at the previous day’s closing level. If the previous intra-day move was bearish, then one might expect yesterday’s move to be bullish. Is it really the case?

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Yesterday we wrote that the situation in the GLD ETF and spot gold was quite different. There had been a breakout in the GLD ETF, but none in spot gold. Gold attempted to break out as well yesterday, but failed miserably. In fact, gold formed a bearish shooting star candlestick. Is the rally over and it's the final chance to sell or is this just a pause before gold really takes off? That's just one of the portfolio-affecting things that we cover in today's alert.

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The GLD ETF has broken above the declining resistance line and silver rallied even more significantly. On the other hand, spot gold just moved to the resistance line and stopped. Will "whites lead yellow" this time? What does the huge rally in the junior sector indicate? How can the Euro Index's critical juncture affect the precious metals market and what can you do about it? We invite you to read today's alert and find out.

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Today's alert is more of a big and extremely timely report than just a small alert. We cover many important issues that affect the precious metals market and your portfolio today. Gold rallied and miners soared yesterday and the same goes for silver. Is it too late to buy? Is it high time to short? Some things that helped us decide what to do now (and today's alert includes a change in our trading position) are visible on the charts featuring gold, SLV, GDX, HUI to gold ratio, gold to CCI ratio and others, but there are two no less important indications that are not visible on the charts, but that seem very significant at the current market juncture.

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