Keep in mind that this month is a bit odd, or skewed... since the jobs report is NOT on the 1st Friday, but rather the second. And, if I'm not mistaken, we are into the week before Opex.. which is still the 3rd Friday this month. So there are unusual cross-currents.
fehro wrote:
Fwiw GDX Daily /GC <20d/50d/200d/20w and now <50w 1258 1230 VERY key for gold major support lines it goes look to 1180, 1180 goes bombs away to 1040, that goes 700 in waterfall move.. under 1040 expect $20-50 day moves
/GC nLOD 1250ish nears 50month/100w 1233-30 DXY US dollar pressing HOD >20d testing 50d at HOD GDX lags
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IF we are going to kiss resistance good by from the downside I have ES 2635.75 for R1 and the overnight high (te-fern's blue line). I'll take either one but then I want to see a solid drop below VWAP which is sitting on yesterday's high.
Got ,my reversal at te-ferns magic line but it just doesn't want to do the typical late day selloff quite yet. Maybe some think the Ministry of Truth is using that excel's goal seek function for tomorrow's jobs number to kick off a December rally. I know we have all seen that play before but it is a favorite of the FOMC coaching staff.
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