Good Morning Traders!
Open- Drive – test – reject – hold PDH and end up range bound…..new one (!)….or, price equals time getting more extreme. IBM and V were at top of top 40 NYSE list and top 40 stayed in the green 95% of the day. (HD and MO had brief blip into red territory.) Chart of Visa shows successful test of lower end of range. Overall range bound environment may persist? Daily s got a bit oversold, weeklies still at top of swing. SPs blew through the 1842 level….For Tuesday: main reference points: 1855.75 PDH….and 1845.75 the pit session low.
Gold – Buy flush below PDL (1361.9)
Bonds pinball Buy – upside may be limited though since just rejected top of range.
CD – 9035 has been tested twice…..If CD takes this out, Buy stops will trigger. Otherwise, mired in dead range for now. BP – another case of converging trend lines on intraday chart….
EC remains in steady uptrending channel . a daily chart of the Dollar index shows MAJOR breakout pattern from the past three day’s chart formation.
Have a great day! Linda