Gold ...

... had a nice "pop" today after the FED announced leaving rates on the short end of the curve where they are until the end of 2014.  I wonder how the market can actually believe that ANYONE can project something as sensitive like interest rates that far in the future. 

Nevertheless, Gold broke out of resistance and more importantly, the miners really broke out.  Below is a chart of GDXJ (Market Vectors Junior Gold Miners ETF) as of today's close.  It's broken thru downtrend resistance (yellow dashed line) and has pierced 62% Fibonacci resistance.  I'll be watching for a penetration of the 50% resistance line and ultimately a filling in of the gap created in October between 31.50 and 33.00 before I become a believer that the precious metals and their mining stocks are resuming their multi-year bull market.