A “quiet” day in the markets yesterday (Monday) with all the stock indicies staging a quiet rally towards resistance. On most other days it would be called a volatile day but compared to last week’s fireworks it just felt quiet. I guess it is August after-all…
- GC: Pushing down to the lower end of its range after sell divs
- SI: Similar to gold but a little sloppier
- HG: Feels like a bear flag is forming even though we’re in the middle of a range
- ZB: Sell divergences working off – sideways to slightly down.
- LC: Short rallies
- NG: Overbought in a downtrend – look for shorting opportunities
- HO: 3 day triangle breakout formation
- ES/NQ/NK/FESX: At resistance levels where prices tumbled last week. Holding a short bias here until this level is definitely penetrated.
- BP: Forming daily bear flag; Grail sale above.
- NE1: This has been on an extended run to the downside and it continued today.