Opening Play and Daily Tradesheet for Monday 5/19

5-17-2014 6-31-31 PM

Commentary:

Good Morning Traders!

Options expiration brought an afternoon rally that marked indexes on their highs for the session.  The Monday after expiration often has some give back.  The SPs also rallied back to the start of a previous pit session gap area (Resistance).  The hourly charts are poised to test back down.

 

Bonds have a Pinball Buy – any push down to the levels shown above is excellent support.  There are also plenty of breakout setups:  Copper,  Crude,  EC, BP….Beans and corn have the lowest reading on the Trend Potential column and Gold and silver remain tightly wound.

 

Tradesheet from snagit