sp'60min
GLD, daily
Summary
*price structure in the metals remains a bear flag... within a viable giant H/S formation. Outlook remains bearish... and I'm still short Gold - via GLD.
--
PMI serv' 56s... inline.
--
In equity land... The battle continues!
It is very clear how important the declining trend/resistance currently is... market is really respecting that line.
Right now.. the door remains open to a mini washout in the low sp'2080s... along with VIX 16s.
-
notable strength, social media, FB/TWTR, both +2%.. as the momo chasers re-appear.
-
10.01am ISM serv' sector, 55.7... not great... but not dire either.
-
awaiting the EIA oil report at 10.30am....
10.45am.. a clear break above resistance... urghh
The weaker USD is really helping prop up a lot of asset classes this morning.