Gold & Silver are performing their usual consolidated price action. Nothing much to add their.
The new target for Gold is the 1323s. Anything above 1301 is Bullish on the 15/60
Silver – 17.30s to 17.52/17.87 Positive Zone.
The Broad indices are a complete Algo driven whipsaw is this consolidation zone.
The long levels on the ES broke yesterday.
2498.75 is the pivot level at resistance – bullish above / bearish below. The ES rallied into resistance only to reverse again.
The YM broke it’s long as well… far more technical than the ES… 22307 is the LIS all downside risk.
The NQ broke hard, a retracement in the FANGS is coming due. 5911.25 is the LIS – bullish above, bearish below.
CL is kicking serious ass to the upside after a prolonged consolidation – target was hit and repeated extensions are possible. 51.19s remains the LIS for S/R.
Dollar/Yen after Yellen/FED sold off – we ended last week in a trailing short – theYen should rally to the 112.07 – the 112.22s = DX weakness – a short squeeze.
I’m expecting a reversal day today at some point = bulls have to defend today or the indices are going to drop and drop hard.
There will be a strong retracement from lower targets – trend entry is key to profiting from these moves down. They very rarely made easy any longer.
Chasing gets a trader lit up quickly when the tape gets moving.
Markets rallying with Bonds rallying… flipped for the first time in a long time, watch bonds, protection is going on again.