A great deal of work ahead to correct this.
Watching how resistance trades as every Long setup this week has failed.
I have the final weeks of November as an important tipping point. Crude Oil has it’s line in the sand near 56.15, Nat Gas has hit its target at the 3.22s.
Silver is failing now, we could easily test the 15s at this point.
Dollar/Yen and all currencies are completely manic, but highly technical.
Bonds have some work to do as protection went on and was squeezed, but nothing good came calling for the Bond Market.
Very dangerous times in the Broad Indices…
War in the Mid East seems to be approaching much more rapidly than anticipated, this is very worrisome and has yet to price into Global Markets.
The Federal Reserve clearly stood pat in defense today, Fridays are such low volume – it will be an important day for all markets.
Given what we witnessed today, it’s tough to buy the dip and many did not, the squeeze got us some back by days end.
Bias is negative, until we break the shorts and even then, the writing is on the wall.