In Today's Update:

1) Stronger-than-expected economic data reports out of the U.S. and China helped U.S. Equity markets get off to a strong start and close significantly higher. The Dow Jones Industrial Average gained 329.74 or 1.27%, the S&P 500 added 32.79 or 1.16% while the Nasdaq 100 closed higher by 99.59 or 1.29% and the Russell 2000 finished higher by 16.33 or 1.06%.

2) Crude Oil Futures hit its highest level in almost five months closing higher by $1.56 or 2.59% while Gold Futures dropped $6.80 or 0.52% and the U.S. dollar was flat after recovering from earlier losses. The Bond market moved sharply lower and the yield on the 10-year Treasury Note jumped to 2.505%.

3) Keep an eye on Gold Futures, there is a key test of the 1280 support level coming up. The daily chart is flashing a potential sell signal that will kick-in if the 1280 level is violated and the Head and Shoulders pattern is confirmed, but the weekly and monthly charts are showing the potential for a longer-term move to the upside. Who will win this battle, buyers or sellers?