I got it… thanks. It could be our upside target tomorrow, if they want to fake us out and rally back up? I see it selling off in the morning, but that doesn’t mean it’s going to stay down. I think it will be down for 2-3 days… but with this light volume still in the market, it’s hard to say for sure?
Or, that could be the target for a few days from now… maybe Friday? Who knows? But it’s good to have a target for when the market heads in that direction.
Bounced nicely off the 1150 resistance level. Think we continue drop tomorrow. 1 good down day which we haven’t seen in awhile would surely shake up the bulls……….
Big banks like GS,JPM,HSBC that are net commercials short in gold did not lose in futures contracts 1300$ expiring today, gold closed under 1300$, now I bet gold will now tank. Big divergence in GLD versus GDX.GDX unable to make new highs like GLD.
I’m surprised that they didn’t gap it up this morning Geccko, as it was at 1150 ES in the pre-market, but fell to flat at the open. They had their chance to break up above the overhead resistance area, and failed.
That’s very bearish, as now the short term charts are rolling over, which doesn’t give them much chance of piercing 1150 tomorrow. In fact, I expect another down day at this point.
Refresh page for Monday video update…
I got it… thanks. It could be our upside target tomorrow, if they want to fake us out and rally back up? I see it selling off in the morning, but that doesn’t mean it’s going to stay down. I think it will be down for 2-3 days… but with this light volume still in the market, it’s hard to say for sure?
Or, that could be the target for a few days from now… maybe Friday? Who knows? But it’s good to have a target for when the market heads in that direction.
SPY PRINT 114.48 emailed
S&P 500 analysis after closing bell
Thanks Geccko23, always an interesting post from you!
It’s certainly looking like tomorrow will be a down day. We’ll see I guess…
Bounced nicely off the 1150 resistance level. Think we continue drop tomorrow. 1 good down day which we haven’t seen in awhile would surely shake up the bulls……….
I agree,look at financials leading again the selloff and even AAPL sliding hard,doesn’t look good at all.
Big banks like GS,JPM,HSBC that are net commercials short in gold did not lose in futures contracts 1300$ expiring today, gold closed under 1300$, now I bet gold will now tank. Big divergence in GLD versus GDX.GDX unable to make new highs like GLD.
I’m surprised that they didn’t gap it up this morning Geccko, as it was at 1150 ES in the pre-market, but fell to flat at the open. They had their chance to break up above the overhead resistance area, and failed.
That’s very bearish, as now the short term charts are rolling over, which doesn’t give them much chance of piercing 1150 tomorrow. In fact, I expect another down day at this point.