Tuesday was the first full trading day after the Labor Day holiday. Silver, Platinum and Paladium had big moves. But equities just kinda moved around without going too far in either direction – just minor movement inside their broader daily ranges.
Currencies, however, are more interesting. Some of them seem to have made a short-term climactic move with the dollar index sporting a topping-tail candlestick formation. Both GBP and EC have corresponding bottoming hammer candle-stick formations and other currency pairs show similar price action (Eg: USDNOK).
- GC: Forming sideways line
- SI: New highs again. Buy pullbacks. Should be z-day.
- ZB: Sideways line
- ZC: New lows. Short with stop at Tuesday’s high.
- EMD/ES/NQ/YM/NK: Middle of range. Should move lower since it last touched the upper end.
- FDAX: This is above its recent range. Weird.
- EC: Short rallies.
- CD: Looks like it had a false breakdown from range. Its back inside it.
- JY: Long bias
- NE1: 5 SMA Sale
- MP1: Tagged lower end of range. Long bias.
- DX: Topping tail candlestick formation.
- PA: 120 min bull flag
The NEO PEN app was updated over the weekend which BROKE the connection to the pen. Thus I was unable to post Tuesday’s notes. So, I’m posting it after-the-fact below. I am using a kludgey work-around to get the page images now from the pen. It is very disappointing – the whole setup was working so well until this update. For now I can no longer recommend the NEO….