Opening Play for Monday 7/21

7-20-2014 8-25-33 PMCommentary:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Good Morning Traders!

Trading Range theme prevails as the SPs tested below a previous swing low and found support.  The Russell was able to trade back up above

the previous low as well, giving a wide range reversal when it took out the previous days high.   It does have a Pinball sell, and will need to

consolidate/put in a higher low on the hourly charts before any further upside.  Monday morning can set up a short sale on any further upside.

Bonds –  Buy Day…..Gold and Silver =  Buy Day after reaction back down on Friday.

Watch Copper at the 50% retracement level (drawn off on the chart above).

Bonds = Buy Day though already well up off Friday’s lows.  Possibility of putting in a second lower high on the intraday charts would set the

stage for a trend reversal back down.  This can take 2-3 days to unfold….if it does.

Looking forward to a great trading week!

Linda

 

Tradesheet from Snagit

 

 

 

 

 

 

 

 

 

Markets in BO Mode:

BOs from snagit