Equities Following Precious Metals

A couple of days ago I wrote about how precious metals had formed an upside down head and shoulders pattern and have since broke out.

Gold:

Silver:

Right now looking at the major American equity indexes they seemed to have since formed their own head and shoulders pattern and broke out today.

S&P 500:

Nasdaq:

Russel 2000:

What troubles me about these patterns is that the right shoulder seems to be pretty sloppy on all three of them. Moreover, their breakout occurred on very low volume making them more failure prone. On the short term I think both the precious metals and American equity markets are bullish.