SPX - Latest...
Diligently working its way up to targets...
Price is wedging down with the Moving Averages in a mixed configuration.
Bonds at potential reversion-to-mean oversold levels.
Note the 'Hammer' outside the lower BB.
Here’s a breakdown of the Comex’s most recent silver deliveries to JP Morgan:
April 7th: 1,110,000 ounces
April 8th: 1,280,000 ounces
April 9th: 893,037 ounces
April 10th: 1,200,224 ounces
April 14th: 1,073,000 ounces
April 15th: 1,191,275 ounces
April 16th: 1,183,777.295 ounces
$SPX - Chart Link - this morning's high basically reversed near the upper trendline again
$SPX - Chart Link - closer view
we'll see how this fleshes out over time
The Bear 'Pennant' I posted yesterday is still a threat, although the 30Min shows price bouncing from the string of averages and looking like it wants to break up and out of it Bull 'Flag'...It needs to break above the 600/MA and prove the 'Triangle' breakout and back-test is for real.
I don't like the way the McD broke down from the 'Triangle' need to see that recover the lower line.
We are in with another well over 100 point gain which at £10pp is not to be sniffed at but it has been a slow slog and one always wants more. The key is not to let too much of this gain slip without being bounced out before potentially higher profits. So moving a third of the position stop up under yesterdays low with the remainder slightly lower is a good option I think...
ES 240 shows the rising channel
ES 15 pulled back to 2089 last night and has rallied to a high around 2105