Here we go – day 5 using the Neo Pen. Not bad so far…
- Gold and Silver still seem to be forming sideways lines on the daily chart. Silver has gotten very sloppy in its price movements.
- Bonds – Sideways consolidation. Looks like FGBL (Bunds) had some sort of buy climax off of ECB comments so expect that to go sideways some more now. We’ll see….
- Corn – Looks like that is ready to break lower. Really thought it had a shot at moving higher this week – even if just for a little bit.
- LC – This might finally be ready to move lower. Doji formation on daily and weekly grail sale.
- LH – 5 SMA buy – weird.
- CL – This is another one I thought had potential to move higher this week but so far has been in ugly sloppy hourly consolidation…
- EMD – Nice breakout on Wednesday but gave most of that back yesterday. Bull trap?
- ES – This feels like a never-ending sideways line (its only been consolidating for a few days – it just feels long..)
- EC – Well, this closed with a DOJI right on the lower trend line of a large wedge. Maybe Friday is the day it moves decisively out of that formation. A close below Thursday’s low is a shorting opportunity.
- CD – This one is disappointing, just like corn. Thought it could move higher but has spent all week going sideways and now looks like its ready to break down.
- NE1 – 5 SMA tendency still in play here…
- MP1 – Probably the tightest sideways line I’ve seen in a long time. When this breaks it should be a straight-line move.
- PL – Looks like a buy climax there – might move sideways now for a few days.