Gold once again in history will probably tell us if we are going in full recession mode (ala 2008) or not. 1670-1680 been defended fiercely four times in the last 30 months, markets are going to see how much fear is there one more time .. heading into FED September 20th FOMC meeting. A strong daily close under that level would be the open door to something...
Markets bottom only through the 10 year bonds $TN forming a bottoming formation at 139, which roughly corresponds to 10YR interest rates topping at 2.2%. Might take a good week to churn out. Otherwise, adieu markets.
Crude testing possible right shoulder in IHS formation. Action should pick up tomorrow after first API report at 4:30pm ET. CAD will act accordingly:
If 10Y Yield goes for an Inverted HS, watchout for a face ripper market move next week. Would be pure fuel for UJ, AJ, AU. #Levels. Wait for resistance break, caution.
Heading into highlighted area. Need reversal on lower timeframes (at least 30min. chart) to consider short. No sign at the moment. Let the chart tell you, don't anticipate.
US 10Y Yields entering support area: have you plan ready.
They are going to try to take this thing down one last time. If "they" fail, then look for the highlighted ES 2580-2600 intermediate target.
Entering radar for next week. Will look for long in highlighted area.
Would be surprised at this point if we don't get down to the highlighted area where the mother of all battles should happen, to decide year 2018.
SQQQ gap fill + upcoming supports. Watch.
Grind = continuation For a long you'll need 1) Violent Flush or 2) 24-48hrs of angle smoothening and base formation. No trade on any other option.
On watch on break of minidowntrend. Should coincide with Oil and Gold interim bottom.
Dollar (which is still in uptrend) should help a possible Nikkei rebound in highlighted area. Will look for setup in 4h to 30min chart. Remember:no setup no trade.
Looking for 3.10 on 10Y yield to act as support for both dollar and markets overall #ES, #SPY, #NQ. Might be 2-3 days away from the angle it has.
Looks like we are going towards an interesting monday and tuesday. Support area might be retested.