As a hurricane bears down on Florida, large moves in lumber and orange juice were made on Tuesday.
Most other markets were mostly tame. Except Platinum – wow, what a move there.
Commentary
- GC: Keep buying pullbacks.
- SI: Keep buying pullbacks – this is now a momentum market it seems.
- HG: 5SMA Sale
- ZB: Upper end of range or start of new breakout leg? If I squint I can say its the start of a new breakout leg, meaning even lower long term rates.
- LC: Short rallies
- LH: Likely forming a sideways line
- CL: At resistance – short with stop at Tuesday’s high?
- EMD: Boucing from lows. 3 day triangle
- Equities (ES, NQ, FDAX, NK, FESX): Also 3 day triangle.
- BP: Short bias.
- MP: Lower end of range. Feels weak. If it breaks, watch out below.
- PL: Wow, what a move. z-day, buy pullbacks, scalp only (since it ran all the way up to a prior consolidation area/resistance).
- LB: Break-a-way gap on hurricane news.
- OJ: Break-a-way gap on hurricane news.
- FGBL: Tight consolidation – seems like it wants higher.
- BR: Hammer at lower end of range on really high volume. Feels like a sell climax for now. Tentative long bias (catching a falling knife ..)
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