This will be the first Fiday in the last three where we don’t have gold and silver jumping higher before the stock market open, creating large gaps in the miners. That is actually a positive. Based on the charts and price action I can see the pullback from last Friday’s highs in gold and silver leading to a snapback that is twice the correction. In round numbers silver pulled back approx. one dollar from $25 to $24. It should reach close to $26. Gold had a pullback of approx. $50 from $1833 to $1783. It should get close to $1883, or approx $100 above it’s recent pullback, low. As far as the miners go, the pullback from Friday’s highs while frustrating, was expected. Whenever you get the miners gapping up like last Friday morning(and the previous Friday morning as well) those gaps need to be filled. As I have stated a number of times before, the sooner the better, you don’t want to have large gaps under a position that has made a significant move. It will get filled(only exception is a takeover that gets completed.) Now that all the gaps have been filled the miners can work their way higher to their next levels of resistance. It may be slow and methodical but that is better for achieving sustainable gains that don’t have to be immediately corrected, like in the last few weeks.