Traders, on Friday the
SPX closed at 4166.45 or -55.41 points and -1.31% lower. ES futures gapped down and formed a very classically balanced profile, but ultimately lost the flat/poor low to leave an emotional single print sell pattern to settle just above the 4150 area on strongly negative market-wide internals. So caution was and still is called for. Will elaborate.
You all have great ideas. Dazed, I hear you about trying to cold stop them before offering. Lol. How about when you have to explain that you are not licensed to trade for others.
Hey Golden, yes I've been watching that. My concern in the short term is with the nearest trendline on the GC
daily chart. I will call it the secondary trendline. The line I drew comes in at GC 1735 on the daily and 1720 on the weekly. if you go straight down from where we are now. Next you have the 1690 congestion area. In the near term, for trading purposes, I do not get a good feeling about technicals, but long-term holders know there may be opportunities later.
