June 4, 2020

Market Update – June 4

SPX traded to 3130.94 today. The red line was reached but not the 78.6% retrace. On SPY however today’s high was 313.22, which is the exact 78.6% retrace. Also, a 30 minute volume reversal triggered on SPY (see chart below). This is the 4th such bearish reversal since the March low. The previous 3 were at least near term highs. I’m thinking lower from here.
May 15, 2020

Market Update – May 15

The chart of spot gold is cleaner show I’m showing it instead of futures. Price broke out of the triangle described yesterday. That’s bullish! The top side of the former triangle line should be support now near 1720/22 (former highs at 1722).
OPEN ACCOUNT