sp'60min
GLD, daily
Summary
Whilst the Dow did make a notable (if marginal) new historic high in the previous two days, price structure on the sp'500 hourly cycle is offering an effective micro double top of 2075/76.
First downside target is the recent low of sp'2049.
Daily cycle currently offers the lower bol' in the 2020s, but that is clearly out of range this week.
-
All things considered though, a day of churn/chop is more likely than anything.. as Mr Market waits for the monthly jobs data..tomorrow.
-
stay tuned...
yours.... waiting on the 24hr launch scrub
10.32am .... Nat'gas report...draw down less than expected... $3.69.... no support until 3.30 or so.
Main market.... weak....but still.. small moves.
Noteable weakness, BKS -10%... as they break off from MSFT alliance on Nook.