Commentary
- Silver and gold still inside ranges. Silver closed at the top of its range so maybe it gets a breakout after the fed stuff.
- Copper – feels like a trap was just sprung. Probably just China – US relations news related.
- Bonds – Triangle
- Corn and Beans – both at critical levels (key pivots). Corn feels very weak so might break down. Beans seem stronger so might hold.
- Hogs – 5 SMA buy pattern still in play.
- Crude – This broke out of a hourly triangle so bias is up for now. So play the long side for intraday scalps.
- Natural Gas – At critical level. Slight long bias here.
- Heating Oil – seems to have broke up from a small daily triangle.
- Equities (ES, EMD, NQ, YM) – sideways line. Though, YM looks more like a bull flag since its not moving to the top of its flag or range
- FDAX – broke down today. Yikes. z-day with short bias.
- EC – 2 day rally now testing the breakdown level. Move to new yearly lows is a short with stop at Tuesday’s high.
- CD – bias is long but have had two days up in a down-trend.
- BP – poised for extended run – short all rallies.
- NE1 – oversold in uptrend and still on a 5 SMA buy
- PL – 5 SMA Buy (feels like a sloppy market though)
- PA – back to lower end of range so maybe long trade?
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