rsitrades

07:04

rsitrades

We are still above the 18ma on the daily, so the bias is still up on the SP500. However, if they gap down Monday, bias will be down and we may have an island cluster top. Gold is probably going to test the all time highs....

10:02

rsitrades

WIth the move down on SP500 overnight, gold rallied. Both look like they may be nearing the end of the move down so caution is necessary.

04:47

rsitrades

SP500 and Gold both consolidating, not much action but I think we may see some movement overnight

06:21

rsitrades

Gold needs to hold this level otherwise it likely falls quickly to 3250, in which case it starts looking bearish again. SPX 18 MA is below near the gap, that should be the target if it breaks down soon.

07:04

rsitrades

Yes, we got the move down, but we're at support and the RSI is very oversold on small time frames. Caution is needed.

09:04

rsitrades

The market sold off overnight, but nothing dramatic. A further move down and then recovery is a possibility. Gold pullbacks will likely be bought.

05:04

rsitrades

SPX may breakdown today and it may get some help by traders wanting to reenter gold now that it's breaking up and likely fills it's gap.

07:55

rsitrades

market may stay bullish into the end of the day but there are warning signs that we may pullback overnight and into tomorrow. Bias is still firmly up however, so nothing is certain regarding a pullback until we actually see one.

09:30

rsitrades

If we pullback starting today target is around 5600-5500, the blue channel. Gold loos good for more upside. Bonds could fall significantly if Yields keep rising past 5%.

11:39

rsitrades

All in the video. I know calling tops is dangerous, but I state my reasons why a turn from here is more likely than not. Gold now back into balance is bullish.

05:11

rsitrades

We broke out of balance but the RSI is quite low. A rally at the open is possible, we will have to see. Gold found support at 3135 area. It's in a downward channel, and we will have to see if it can break above it to go long.

09:37

rsitrades

SPX has been in balance all day, I expect a breakout and failure around 5925-5930(where stops are). Pullback should start overnight and tomorrow if this happens. Gold has broken balance and has not recovered, but be wary of an attempt at bulls to try and regain it.

05:42

rsitrades

Gold is the more interesting trade. It looks like it will keep coming down as of now. SP500 is in balance and probably will break up.

07:50

rsitrades

Yes, we may have a pullback but with the weekly and daily MA's now supporting the move, the chances of a larger move down is now remote. Gold looks far more interesting as a trending play to the downside and looks like it will break balance today.

02:59

rsitrades

The Market is still 50+ points from the Bollinger Band, now that it's moved up. However, we're in a channel and a breakdown of the channel may be significant. Trend is still up and the bias is as well. If we are to break below the 200 ma and the 18 weekly, bears would have to step in very soon. Otherwise we will continue to push up.

05:14

rsitrades

Just a quick overview. The market is showing strength into the close, but it's possible we see a turnaround Tuesday tomorrow.

09:28

rsitrades

Now that we've reset the RSI on all the mid time frames, the chance of getting to the BB after open is high. For bears, this may be a day of capitulation. We are over all the important MA's but the rest of the week has to hold above them for it to remain bullish.

10:34

rsitrades

Taking a look at weekly charts, we are very close to important MA's. A move up is still possible past 5730, but I don't think it would last.