Today was one of the more fascinating days I’ve seen in the financial markets in a long time.

The gold advanced and exceeded the January and early April double top at the same time the Dollar surged to new 11-month highs.  This flight to safe havens precipitated in large part by Standard and Poors downgrading Greece and Portugal’s credit ratings, was in stark contrast to today’s severe sell-offs in the Stock Market and Crude Oil.

During today’s trade, we just missed adding to long positions on the projected breakout in the Gold.

At the same time, whereas the Crude Oil declined to a new recent low, the Heating Oil and Gasoline are showing incredible resiliency.

We still have orders to add to long positions in the energy complex if the Heating Oil follows the Gold into new highs for the bull market.

In this video, I talk about the line in the sand which I believe is drawn between the commodity bulls and bears.  If it is resolved to the upside, these markets should continue to run away to the upside.  If prices fail from here, the probabilities will decline dramatically for higher prices.  This adds up to the perfect scenario in which we can potentially cut our losses and let our profits run.