The indices are trading on/near their respective G’bex highs as I write this. It’s not at all out of the question that yesterday’s low is the latest in a series of lows leading to immediate new highs. I wanted to see if there would be any follow-through in G’bex and there was not except for the initial minutes as the G’bex session opened.
Strength above: ES; 1554 – 1555: YM; 14610 – 14617: TF; 910 – 912 and ENQ; 2805-2810 has to be respected. Those areas will ideally hold if there is going to be a re-test on yesterday’s lows.
I think we’ll see lower prices in Gold before significant upside. Identifying potential resistance is problematic because yesterday was so vertical. Same with Silver.
Copper is bouncing, but I still favor shorts.
Crude is rallying but I prefer the short side against 9380 – 9420.
All currencies are a “Jack Trade” at the moment: Nimble and Quick.