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Tuesday, April 4, 2017

Quick Market Update Holiday Trading

"Never sell a dull market"

The 1 min chart we were watching on Friday broke down on Monday, but the market continues to rally off the 50 day ma. Looks like the crooks on Wall Street are keeping their ammo dry for the holidays again; Setting a bear trap ahead of the holiday  

$SPX key support is the recent low @ 2322.25, and again at the 50 day @ 2341. Resistance is just above the previous high around 2272

Gold remains pinned below 1266. We know the banksters manipulated gold markets last year, and I believe that skewed the gold chart. I don't believe Gold uncoupled from Silver (see the EWC on Silver below).

There's a good chance Silver crashes when $18 support breaks again.

Oil is pulling back into wave 2. Trend on the 60 min chart broke yesterday. May find a short trade there.

$NatGas support is 3.10/ resistance is 3.37 - in a bearish H&S pattern on a nine month chart.

That's about it. Expect dull markets for the next 2 weeks. Low $VIX = no fear.

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