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!
Markets in BO Mode: