Opening Play for Monday 4/21

April 17, 2014

4-20-2014 10-05-29 PM

Good Morning Traders!

Sunday evening was a relatively quiet affair as Europe is closed on Monday in honor of the Easter holiday.

Silver and gold are making a retest down on the 120 minute charts.  Currencies are quiet.   The charts above show the SPs and Russell – The Russell has a pinball sell.  The SPs are due for a consolidation day.  Big picture, the SPs are in the middle of a broad trading range but last weeks blastoff to the upside out of a previous coil generated good upside momentum.  Any reaction down is unlikely to get too far even though the market has now traded four days low to high.

Bonds and Tens had downside breakouts with range expansion – look for a 2 way trading consolidation day.   I think there will be more new trade setups once the European markets resume trading.  In the meantime, Sps are likely to be a lighter volume scalping day with trades offered in both directions.

Have a Great Day!

Linda

 

 

Tradesheet from snagit